Abraxas – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Mon, 12 May 2025 15:46:27 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.8 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Abraxas – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Ethereum Soars 44% as Abraxas Capital Pulls 185,309 ETH From Exchanges https://earlybirdsinvest.com/ethereum-soars-44-as-abraxas-capital-pulls-185309-eth-from-exchanges/ https://earlybirdsinvest.com/ethereum-soars-44-as-abraxas-capital-pulls-185309-eth-from-exchanges/#respond Mon, 12 May 2025 15:46:27 +0000 https://earlybirdsinvest.com/ethereum-soars-44-as-abraxas-capital-pulls-185309-eth-from-exchanges/

After a testing start to the year, Ethereum (ETH) is roaring back to life, notching a surge by more than 44% in just three days.

The rally, which saw ETH climb from $1,800 to over $2,600, marks the asset’s strongest three-day performance since January 2021.

Institutional Accumulation

The price jump also coincided with a series of massive withdrawals from exchanges by crypto investment firm Abraxas Capital. According to the on-chain analytics platform Lookonchain, Abraxas pulled 185,309 ETH worth nearly $400 million from exchanges in the last 72 hours, just as the cryptocurrency began its ascent.

Some view this aggressive accumulation as a sign of growing institutional confidence in Ethereum’s long-term prospects. The uptick has also reversed a profitability slump, with Sentora (formerly IntoTheBlock) noting on May 12 that the share of ETH addresses in profit has rebounded to over 60%, up from just 32% a month ago, reigniting the “Ethereum is back” narrative.

Analyst Titan of Crypto highlighted that ETH had reclaimed a five-year trendline from which it had previously deviated, observing that the MACD was “flipping bullish” on the weekly chart. Fellow market watcher Ali Martinez suggested that the cryptocurrency’s most critical support zone lies between $2,060 and $2,420, where 10 million wallets hold more than 69 million ETH.

Recovery in Motion

Trader Henry also offered additional insight into Ethereum’s structure, pointing out that it had formed an ascending triangle between $2,109 and $1,385. According to him, after hitting initial resistance at $2,578, ETH is now retesting support within the $1,800 to $2,578 zone.

He also predicted upcoming resistance levels at $3,073, $3,316, $3,700, and $4,013, with a long-term target of $12,000 by the end of the year.

Price-wise, ETH is currently trading at $2,550, a slight 1.3% uptick in the last 24 hours. Over the past seven days, the asset gained almost 40%, significantly outperforming the broader crypto market, which went up 13.9% in that period.

On the monthly scale, it has jumped by more than 60%, although it is still down some 12.4% year-on-year and more than 47% below its all-time high of $4,878, which it attained in October 2015.

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]]> https://earlybirdsinvest.com/ethereum-soars-44-as-abraxas-capital-pulls-185309-eth-from-exchanges/feed/ 0 35809 Abraxas Capital Wallet Acquires Nearly $250M in Bitcoin Ahead of Easter https://earlybirdsinvest.com/abraxas-capital-wallet-acquires-nearly-250m-in-bitcoin-ahead-of-easter/ https://earlybirdsinvest.com/abraxas-capital-wallet-acquires-nearly-250m-in-bitcoin-ahead-of-easter/#respond Sun, 20 Apr 2025 09:37:56 +0000 https://earlybirdsinvest.com/abraxas-capital-wallet-acquires-nearly-250m-in-bitcoin-ahead-of-easter/

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.

The post Abraxas Capital Wallet Acquires Nearly $250M in Bitcoin Ahead of Easter appeared first on Cryptonews.

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