By Chris Hollingworth 
A significant Bitcoin whale wallet recently made headlines by adding $200 million worth of Bitcoin to its already substantial position. This move follows the sale of over 11,400 Bitcoin in the past few months and coincides with a recent uptick in the cryptocurrency’s value. According to blockchain analytics firm Arkham Intelligence, the whale acquired 2,400 Bitcoin on March 24, bringing its total holdings to over 15,000 Bitcoin valued at more than $1.3 billion at current prices.
Arkham Intelligence reported that the whale had initiated its buying spree five days prior after offloading its holdings when Bitcoin was trading between $100,000 and $86,000 in February. CoinGecko data reveals that Bitcoin’s price fluctuated from over $104,000 on February 1 to a low of $78,940 on February 28.
Meanwhile, another Bitcoin whale emerged from dormancy after eight years, moving more than 3,000 Bitcoin worth $250 million in a single transaction on March 22. Arkham noted that this individual’s Bitcoin holdings skyrocketed from $3 million in early 2017 to over $250 million presently, maintaining the Bitcoin in one address for over eight years.
In a separate development, BlackRock, the world’s largest asset manager with approximately $11.6 trillion in assets under management, has been steadily increasing its Bitcoin holdings. Data from Bitbo’s Bitcoin treasury tracker shows that BlackRock accumulated an additional 4,054 Bitcoin across 15 transactions, bringing its total stash to 573,878 Bitcoin valued at over $50 billion. BlackRock’s iShares Bitcoin Trust (IBIT) led a rally of spot Bitcoin exchange-traded funds (ETFs) in the US, reversing a five-week net outflow streak by attracting a net inflow of $744.4 million.
Moreover, Lookonchain utilized Arkham data to highlight a lone Ether whale that added 7,074 Ether (ETH) to its portfolio on March 21, amounting to $13.8 million. Despite Ether’s price ranging between $1,876 and $2,097 in the past week, it remains over 57% below its all-time high of $4,878 reached in November 2021. However, Ether’s open interest surged to a new peak on March 21, with the number of addresses holding at least $100,000 worth of Ether on the rise since early March.
The cryptocurrency market continues to attract attention from investors, with significant players making strategic moves to capitalize on the evolving landscape. As Bitcoin and Ether witness notable activity from whales and institutional investors, the market outlook remains dynamic and subject to ongoing developments.
