Abraxas Capital, an investment firm based in London, has garnered attention recently due to its significant acquisition of nearly $250 million in Bitcoin over a four-day span just ahead of Easter.
The firm purchased 2,949 BTC, reflecting a resurgence of institutional confidence in cryptocurrencies amid ongoing global trade tensions and the approaching Easter holiday.
Data from the blockchain analytics platform Lookonchain, referencing insights from Arkham Intelligence, indicates that Abraxas acquired more than $45 million in Bitcoin from Binance on April 18 alone.
MicroStrategy’s $285M Bitcoin Purchase Fuels Institutional Interest
This latest move follows MicroStrategy’s announcement of its own Bitcoin buy, totaling $285 million, at an average of $82,618 per coin.
MicroStrategy’s actions, led by CEO Michael Saylor, underline the bullish sentiment shared by leading corporate investors in the crypto space.
Institutional investors and crypto whales are maintaining a robust accumulation trend, with data revealing that these large stakeholders are currently purchasing more than three times the volume of new Bitcoin mined each year.
However, analysts are closely monitoring medium-term holders—those retaining Bitcoin for three to six months—who have recently offloaded over 170,000 BTC into circulation.
Whales/Institutions continue to accumulate $BTC!
Abraxas Capital related wallet withdrew another 505 $BTC($42.64M) from #Binance 9 hours ago.
This wallet has withdrawn 2,949 $BTC($250M) from exchanges in the past 4 days.https://t.co/1SwIOPCivI pic.twitter.com/SoOmlCpITQ
— Lookonchain (@lookonchain) April 19, 2025
Despite this accumulation, concerns remain about the stability of the market. Recent weekends have witnessed substantial volatility in crypto prices.
On April 13, the price of Mantra (OM) plummeted by over 90% within a single day, raising alarm about potential market manipulation.
A week prior, Bitcoin prices dipped below $75,000 in response to a staggering $5 trillion sell-off in the S&P 500.
Markus Thielen, head of research at 10x Research, has suggested that Bitcoin might be entering a phase of prolonged consolidation.
In a market analysis, Thielen highlighted that short-term technical indicators present a cautious outlook, despite many analysts predicting new all-time highs by mid-year.
He referenced the Bitcoin stochastic oscillator, indicating that current market indicators align more closely with a peak typically seen late in a cycle rather than the onset of a new bull market.
Lyn Alden Predicts Bitcoin Gains Despite Tariff Challenges
Macro strategist Lyn Alden anticipates that Bitcoin will conclude 2025 above its current valuation of approximately $85,000.
Alden remarked, “Before all this tariff kerfuffle, I would have had a higher price target,” during a recent discussion.
While she still projects an increase in Bitcoin’s price by the end of the year, she noted that tariffs enacted in February have dampened her previously optimistic outlook.
Alden pointed out that a major liquidity injection could facilitate a surge in Bitcoin’s value, particularly if a crisis emerges in the U.S. bond market, potentially prompting the Federal Reserve to implement quantitative easing or yield curve control measures.
Despite facing macroeconomic challenges, Alden maintains there is a “good chance” Bitcoin could exceed the $100,000 threshold by 2025.
Nevertheless, she cautioned that ongoing global market fluctuations represent a significant hurdle, especially given Bitcoin’s continuous trading nature, unlike traditional equities that are bound by structured trading hours.
“Because it trades 24/7, if people are worried about how things are going to open on Monday, some pools of capital can sell their Bitcoin on a Sunday and prepare,” she explained.
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