Bitcoin Whales Accumulate Millions as Price Rebounds; BlackRock Adds to Holdings

Bitcoin whales have been actively accumulating substantial amounts of Bitcoin, coinciding with a recent price rebound. On March 24, one whale added 2,400 Bitcoin, worth over $200 million, to their holdings, bringing their total to over 15,000 Bitcoin valued at $1.3 billion. This accumulation follows sales earlier in February when Bitcoin's price fluctuated between $104,000 and $78,940. Another dormant Bitcoin whale, inactive for eight years, moved over 3,000 Bitcoin, worth $250 million, on March 22. BlackRock, with $11.6 trillion in assets under management, has also been steadily increasing its Bitcoin holdings. Over the last week, the asset manager acquired an additional 4,054 Bitcoin, bringing its total to 573,878, worth over $50 billion. BlackRock's iShares Bitcoin Trust (IBIT) led spot Bitcoin ETFs with a net inflow of $744.4 million, with IBIT accounting for $537.5 million of that total. Ether whales have also been active, with one adding 7,074 ETH, worth $13.8 million, on March 21. Ether's open interest surged to a new all-time high on the same day.