A London-based investment firm has made significant Bitcoin purchases totaling $250 million, while crypto analysts predict reduced market volatility during the Easter weekend.
Abraxas Capital, headquartered in London, has accumulated 2,949 Bitcoin over a four-day period leading up to April 19, according to data from crypto intelligence firm Lookonchain. The substantial investment follows increased institutional activity in the cryptocurrency market.
The firm's most recent transaction involved purchasing over $45 million worth of Bitcoin from Binance on April 18, as reported by Lookonchain using Arkham Intelligence data. This acquisition comes shortly after Michael Saylor's MicroStrategy added $285 million in Bitcoin to its holdings at an average price of $82,618 per BTC.
Market analysts suggest the Easter weekend could bring relative stability to cryptocurrency prices following two weeks of heightened volatility triggered by global trade tensions. The reduced likelihood of major announcements from the White House during the holiday period is expected to contribute to steadier valuations.
Large Bitcoin investors, commonly referred to as "whales," continue to demonstrate strong accumulation patterns. These entities have absorbed more than 300% of Bitcoin's yearly issuance rate, while cryptocurrency exchanges are experiencing record outflows of Bitcoin, according to Cointelegraph.
The substantial institutional investment in Bitcoin occurs amid ongoing uncertainty regarding global tariffs, yet appears to signal continued confidence in the cryptocurrency as a strategic asset. This persistent accumulation by major players contrasts with the reducing Bitcoin reserves held on exchanges.
As Bitcoin trades near the $65,000 mark, the market's reaction to these large-scale purchases will be closely monitored by traders following the holiday weekend, when traditional market influences typically resume their impact on cryptocurrency valuations.
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