Bitcoin’s recent recovery has triggered a wave of renewed activity among large holders, as several whale wallets have made major moves in recent days. One whale added a significant amount of Bitcoin to their holdings, while another reactivated a long-dormant wallet for the first time in nearly a decade.
According to blockchain analytics firm Arkham Intelligence, a major Bitcoin whale added roughly 2,400 BTC to their holdings on March 24, withdrawing the funds from Binance. The purchase, valued in the hundreds of millions of dollars, comes after the same wallet had offloaded a large amount of Bitcoin earlier this year during a price downturn.
ARKHAM ALERT: BILLIONAIRE BITCOIN WHALE APPEARS TO HAVE JUST BOUGHT $BTC
A $1B Bitcoin Whale just withdrew $200M of BTC this morning from Binance.
He started acquiring BTC 5 days ago after selling between $100K and $86K in February.
Address:… pic.twitter.com/YzmpWjdU0I
— Arkham (@arkham) March 24, 2025
Despite those sales, the wallet now holds over 15,000 BTC, worth well over a billion dollars at current market levels. The move coincides with Bitcoin’s broader rebound over the past week, during which the asset has traded between the low and high $80,000s.
Arkham noted that the whale resumed buying just days ago, after having sold part of its stash when Bitcoin prices were hovering in the six-figure range earlier this year.
Dormant Whale Wallet Awakens After 8 Years
In another noteworthy development, a separate Bitcoin wallet—dormant for over eight years—was suddenly reactivated on March 22, moving more than 3,000 BTC in a single transaction. The coins, originally worth just a few million dollars in 2017, are now valued at hundreds of millions.
Arkham said the wallet had held the Bitcoin in a single address since the mid-2010s, making the sudden movement especially significant. It’s unclear whether the transaction was for consolidation, liquidation, or security reasons.
Institutional Players Join the Accumulation Trend
The whale activity isn’t limited to early adopters. BlackRock, the world’s largest asset manager, has also increased its Bitcoin holdings over the past week. Through a series of transactions, BlackRock added more than 4,000 BTC, bringing its total to well over half a million Bitcoin.
Data from Bitbo’s Bitcoin treasury tracker shows that BlackRock’s iShares Bitcoin Trust (IBIT) played a central role in recent ETF inflows, helping to end a five-week streak of net outflows among U.S. spot Bitcoin ETFs. IBIT alone accounted for the majority of a multi-hundred million dollar inflow, followed by Fidelity’s Bitcoin fund.
Ethereum Whales Are Moving Too
Activity has also picked up in the Ethereum market. On March 21, Arkham-tracked data revealed that a single Ether whale acquired more than 7,000 ETH, valued at just under $14 million at the time. The purchase was made as Ether traded in a relatively tight range between $1,800 and $2,100 over the past week.
Open interest for Ether futures also hit a new high this month, and the number of addresses holding at least $100,000 worth of ETH has increased noticeably since early March.
Whale Behavior Signals Renewed Confidence
The latest movements by long-time holders and major institutions suggest growing confidence in the crypto market as both Bitcoin and Ethereum show signs of recovery. With increased trading volumes, rising ETF inflows, and dormant wallets springing back to life, large players appear to be positioning themselves ahead of the next market phase.
While short-term volatility remains, the activity of whales—both old and new—points to a belief that digital assets may still have substantial room to grow in the months ahead.
