Thomas Daniels
Whales and institutional investors continue to bolster their Bitcoin holdings as the cryptocurrency market heads into the Easter weekend. Market analysts forecast subdued volatility following two weeks marked by significant turbulence driven by escalating global trade tensions.
London-based investment firm Abraxas Capital notably acquired 2,949 Bitcoin, valued at over $250 million, between April 15 and April 19, according to data from crypto intelligence firm Lookonchain, citing Arkham Intelligence. On April 18 alone, Abraxas reportedly purchased more than $45 million worth of Bitcoin from the Binance exchange.
The move follows a significant purchase by Michael Saylor’s MicroStrategy, which recently invested $285 million in Bitcoin at an average price of $82,618 per coin, reinforcing corporate confidence in the digital asset amid global tariff uncertainty.
According to a recent Cointelegraph report, whales are now absorbing more than 300% of Bitcoin’s annual issuance, as exchange reserves continue to decline at a historic pace, further tightening supply.
Market Analysts Anticipate Reduced Volatility Despite Rising Whale Activity
Despite the robust accumulation by large investors, some analysts have expressed concerns about potential volatility stemming from movements within Bitcoin’s medium-term holder cohort—investors who retain their coins for three to six months. Data suggests that over 170,000 Bitcoin have recently entered circulation from this group, which could be a precursor to market turbulence.
CryptoQuant analyst Mignolet, however, downplayed immediate fears, suggesting that such on-chain movements rarely impact weekend trading due to limited liquidity on centralized exchanges.
Bitfinex analysts echoed this sentiment, noting that funding rates currently remain stable and that the closure of U.S. markets for the Easter holiday could suppress any significant price swings, barring unexpected geopolitical developments.
Marcin Kazmierczak, COO of RedStone Oracles, further added that the recent large Bitcoin movements might reflect operational wallet transfers rather than signals of imminent sell-offs.
Liquidity Concerns Persist After Recent Market Shocks
Despite a cautiously optimistic outlook for the weekend, recent events continue to cast a shadow over the market. On April 13, Mantra (OM) experienced a dramatic 90% collapse in value—from approximately $6.30 to below $0.50—sparking allegations of market manipulation and exposing critical liquidity vulnerabilities.
Further exacerbating investor anxiety, Bitcoin prices dipped below $75,000 on April 6 following a historic $5 trillion sell-off in the S&P 500. Blockstream CEO Adam Back attributed the sharp correction to Bitcoin’s 24/7 liquidity, which made it an accessible de-risking tool during a time when traditional markets were closed.
“With lower weekend volumes, the risk of rapid flash crashes increases, although these are often quickly corrected,” Back explained.
As Bitcoin and broader crypto markets navigate the Easter holiday, investors will be closely monitoring any unexpected developments that could disrupt the anticipated calm.
