Bitcoin Whales Make Waves: $200M Buy-In and 8-Year Dormant Wallet Awakens!
A major Bitcoin whale has made waves in the crypto market by purchasing $200 million worth of BTC, coinciding with a price rebound. Meanwhile, another long-dormant wallet has resurfaced after eight years, moving over 3,000 BTC.Whale Acquires $200M in Bitcoin
Blockchain analytics firm Arkham Intelligence reported that a large Bitcoin investor withdrew 2,400 BTC valued at over $200 million from Binance on March 24. Despite selling over 11,400 BTC in previous months, the whale now holds more than 15,000 BTC, with an estimated worth of $1.3 billion.
The accumulation began just five days ago, following sales in February when Bitcoin fluctuated between $86,000 and $100,000. Market data from CoinGecko shows that BTC hit a low of $78,940 in late February before rebounding to trade between $81,000 and $88,000 over the past week.
Dormant Wallet Awakens
Adding to the whale activity, another Bitcoin address, inactive for over eight years, recently moved 3,000 BTC in a single transaction, valued at approximately $250 million. According to Arkham Intelligence, the wallet’s holdings, originally worth $3 million in 2017, have skyrocketed in value.
Institutional Accumulation on the Rise
BlackRock, the world’s largest asset manager, has also been steadily increasing its Bitcoin holdings. Data from Bitbo’s Bitcoin treasury tracker shows that BlackRock added 4,054 BTC across 15 transactions, bringing its total Bitcoin reserves to 573,878 BTC worth over $50 billion.
Additionally, BlackRock’s iShares Bitcoin Trust (IBIT) led a surge in spot Bitcoin ETFs in the U.S., marking a net inflow of $744.4 million after a five-week streak of outflows. The fund’s strong performance was primarily driven by BlackRock ($537.5 million) and Fidelity’s Wise Origin Bitcoin Fund ($136.5 million).
Ethereum Whales Also Active
While Bitcoin investors dominate headlines, Ether (ETH) whales are also accumulating. Blockchain tracking service Lookonchain identified a whale purchasing 7,074 ETH worth $13.8 million on March 21. Ether’s price has been trading between $1,876 and $2,097, still down 57% from its all-time high of $4,878 in 2021.
Despite its price lag, Ether’s open interest reached a record high on March 21, and the number of addresses holding at least $100,000 worth of ETH has grown from 70,000 on March 10 to over 75,000 by March 22.
With major investors making moves, the crypto market continues to witness increased institutional interest and whale activity, signaling confidence in Bitcoin’s long-term trajectory.
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