Abraxas Capital Buys the Dip, Stashing Nearly $250M of Bitcoin Ahead of the Easter Weekend

As global markets remain on edge and the Easter weekend approaches, London-based Abraxas Capital has made a bold move that's turning heads in the crypto world.

London-based Abraxas Capital has reportedly bought nearly $250 million worth of Bitcoin.

The firm's new investment, which adds 2,949 BTC to its portfolio, comes as global markets remain on edge ahead of the Easter weekend.

This transaction, completed over just four days, showcases that big money is still placing significant bets on crypto.

The purchase, which began on April 14 and concluded on April 18, saw Abraxas diversifying its investment portfolio with the world's leading cryptocurrency.

According to blockchain analytics platforms, a considerable portion of the investment—over $45 million—was executed on April 18 through popular exchange Binance.

This large-scale buy-in demonstrates that investment firms are actively seeking to strengthen their crypto exposure, even amid recent market volatility and geopolitical tensions.

A Surge in Institutional Confidence

Abraxas Capital's move follows a similar declaration from tech firm MicroStrategy, which revealed it had bought $285 million worth of Bitcoin at an average price of $82,618 per coin.

These high-profile investments highlight that despite short-term price swings, the long-term view on Bitcoin remains optimistic among seasoned investors.

This trend is further confirmed by recent on-chain data, which shows that institutional and whale investors are accumulating Bitcoin at a pace three times faster than new coins are being mined.

This aggressive accumulation pattern reflects strong confidence in the asset's future potential, especially as investors seek safe havens amid inflation concerns and shifting economic policies worldwide.

Caution in the Midst of Optimism

Yet, amidst bullish signs, analysts are quick to point out some cautionary trends.

Specifically, medium-term holders, who typically keep Bitcoin for three to six months, have recently released over 170,000 BTC back into circulation.

This shift may add pressure on price action in the short term, even as demand remains strong.

Over the past two weekends, the crypto market has seen notable turbulence.

Bitcoin briefly fell below $75,000 earlier this month following a dramatic $5 trillion sell-off in the U.S. stock market.

And in a separate event, the price of lesser-known cryptocurrency Mantra (OM) collapsed by over 90% in a single day, raising concerns of manipulation.

According to experts like Markus Thielen from 10x Research, Bitcoin may be entering a consolidation phase.

Pointing to the stochastic oscillator, a technical indicator measuring momentum, Thielen believes that Bitcoin might be closer to a market top than the beginning of another rally.

Looking Ahead: Bitcoin's Path Forward in 2025

Prominent macro strategist Lyn Alden recently provided her thoughts on the broader economic outlook and Bitcoin's potential in the coming years.

Alden said that she still sees a "good chance" of Bitcoin hitting $100,000 by the end of 2025. However, her earlier bullish forecasts have been slightly adjusted due to economic developments, particularly new U.S. tariffs introduced in February.

"If not for the tariff situation, my price target would've been higher," Alden shared during an interview.

She explained that a major liquidity event, such as a bond market crisis or aggressive Federal Reserve intervention, could push Bitcoin higher, possibly exceeding all-time highs.

Alden also highlighted the unique trading nature of Bitcoin, which presents both opportunity and risk.

With Bitcoin trading 24/7 and not tied to stock market hours, investors sometimes react to global news on weekends, leading to Sunday sell-offs as a pre-Monday risk management move.