Abraxas Capital Wallet Acquires Nearly $250M in Bitcoin Ahead of Easter

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Ruholamin Haqshanas

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Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

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April 19, 2025

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A crypto wallet tied to London-based investment firm Abraxas Capital has made headlines after purchasing nearly $250 million worth of Bitcoin in the four days leading up to Easter.

The firm acquired 2,949 BTC, signaling renewed institutional confidence in the cryptocurrency amid global trade tensions and an approaching Easter weekend.

According to blockchain analytics platform Lookonchain, which cited Arkham Intelligence data, Abraxas’ latest purchase included over $45 million in Bitcoin from Binance on April 18 alone.

MicroStrategy’s $285M Bitcoin Buy Sets the Stage for Institutional Accumulation

The acquisition follows closely behind MicroStrategy’s announcement that it had bought $285 million worth of Bitcoin at an average price of $82,618 per coin.

The move by Michael Saylor’s company further reinforced the bullish stance held by major corporate players.

The broader accumulation trend among institutional investors and crypto whales is continuing.

Recent data shows that these large holders are collectively buying up more than three times the amount of new Bitcoin being mined each year.

Despite such accumulation, analysts are keeping a close eye on medium-term holders—those who typically hold Bitcoin for three to six months—who have recently released over 170,000 BTC into circulation.

Still, concerns linger. The past two weekends have seen notable disruptions in the crypto markets.

On April 13, the price of Mantra (OM) plunged over 90% in a single day, sparking manipulation concerns.

A week earlier, Bitcoin had dipped below $75,000 as global investors reacted to a record $5 trillion sell-off in the S&P 500.

As reported, 10x Research’s head of research Markus Thielen has argued that Bitcoin may be entering a period of extended consolidation.

In a recent market note, Thielen warned that short-term technical signals are painting a more cautious picture, even as many analysts forecast new all-time highs by mid-year.

Thielen pointed to the Bitcoin stochastic oscillator, a technical indicator that measures momentum, suggesting the market is displaying traits more consistent with a late-cycle top than the beginning of a new bull run.

Lyn Alden Says Bitcoin Would Be Higher if Not for Trump’s Tariff Shock

Prominent macroeconomist Lyn Alden believes Bitcoin is on track to finish 2025 above its current price of around $85,000.

“Before all this tariff kerfuffle, I would have had a higher price target,” Alden said during a recent interview.

While she still expects Bitcoin to post gains by year-end, Alden noted that the tariffs introduced in February have tempered her earlier bullish outlook.

Alden explained that a major liquidity boost could push Bitcoin toward more ambitious targets.

Such a scenario might occur if the U.S. bond market faces a crisis, prompting the Federal Reserve to respond with quantitative easing or yield curve control.

Despite current macro headwinds, Alden believes there is still a “good chance” Bitcoin surpasses the $100,000 mark in 2025.

However, she warned that global market volatility remains a key obstacle, especially because Bitcoin trades continuously — unlike traditional equity markets with limited 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 said.