Key Takeaways
- A Bitcoin whale bought $200M in BTC after earlier sales, now holding over $1.3B.
- Another whale moved $250M in BTC after 8 years of wallet inactivity.
- BlackRock increased its Bitcoin holdings to 573,878 BTC worth over $50B.
Bitcoin whales are back in action.
On March 24, a major whale added 2,400 BTC worth over $200 million, according to blockchain analytics firm Arkham Intelligence.
The purchase came after several weeks of selling, with the whale now holding over 15,000 BTC valued at approximately $1.3 billion.
Arkham said in a post on X:
A $1 billion Bitcoin Whale just withdrew $200 million of Bitcoin this morning from Binance.
Price recovery for Bitcoin
This move coincided with a price recovery for Bitcoin, which has been trading between $81,000 and $88,000 over the past week, climbing 3% on March 24.
Bitcoin’s price had previously dipped to $76,900 on March 11.
Dormant wallet activity
Meanwhile, another Bitcoin whale that had been dormant since 2017 suddenly became active.
On March 22, the wallet moved over 3,000 BTC, worth $250 million, in a single transaction.
Arkham noted that the wallet had held onto the Bitcoin since early 2017, when it was worth just $3 million.
BlackRock increases holdings
BlackRock also increased its holdings, acquiring 4,054 more BTC over 15 transactions.
The asset manager now holds 573,878 BTC — worth over $50 billion — through its iShares Bitcoin Trust (IBIT), according to Bitbo data.
IBIT led a strong performance for U.S. spot Bitcoin ETFs, recording $537.5 million in net inflows last week, helping reverse a five-week outflow streak.
Fidelity’s FBTC followed with $136.5 million in inflows.
