UK Firm Abraxas Capital Buys $250 Million in Bitcoin, Markets Prepare for Quiet Easter Weekend
London, April 19, 2025 – As markets head into the Easter holiday with expected lower trading volumes, UK-based investment firm Abraxas Capital has caught the financial world’s attention with its acquisition of 2,949 BTC worth over $250 million in just four days.
According to data from Arkham Intelligence compiled by Lookonchain, the largest transaction in the series took place on April 18, with $45 million worth of Bitcoin purchased via Binance.
Following MicroStrategy’s Strategy – Whales Continue to Accumulate
Abraxas Capital’s move is said to follow the strategy of MicroStrategy founder Michael Saylor, who recently purchased another $285 million worth of BTC at an average price of $82,618 per BTC.
These large transactions demonstrate the growing confidence of large institutions in Bitcoin, despite uncertainties from global trade tensions and ambiguous tax policies.
As Cointelegraph reported on April 18, Bitcoin “whales” are absorbing three times the annual issuance of new BTC, reducing the supply on exchanges and adding upward pressure on prices in the long term.
Markets await a quieter Easter holiday
Market analysts expect trading volumes to decline over the Easter weekend, when US markets are closed and funding rates remain stable. According to experts from Bitfinex exchange, large on-chain movements usually do not directly affect price action during low liquidity conditions on weekends.
However, there are still some concerns from mid-term investors, especially those holding BTC for 3-6 months – with more than 170,000 BTC recently activated for circulation, causing observers to closely monitor developments.
Notable Market Event: Mantra Token Crashes 90%
In another development that raised concerns about liquidity in the industry, the Mantra token suddenly plummeted from $6.30 to below $0.50 on Sunday, April 13 – a drop of more than 90% in just a few hours. The incident sparked a wave of accusations of market manipulation and added to investors' concerns.
Previously, on April 6, Bitcoin fell below $75,000 on Sunday due to the impact of the $5 trillion exodus from the S&P 500 index. Blockstream CEO Adam Back emphasized that Bitcoin is one of the rare liquid assets that can be traded 24/7, prone to strong fluctuations on weekends when trading volume is low.
Bitcoin Staking Services Bloom - DeFi Welcomes New Capital
Amid the booming institutional Bitcoin market, BTC staking services are also starting to attract attention. Recently, Lombard Finance launched an SDK toolkit that allows users to stake Bitcoin through DeFi Vault, receiving LBTC tokens with a profit of about 3%/year.
Major exchanges such as Binance and Bybit have integrated this technology, supporting many types of wallets and contributing to the formation of a Bitcoin staking market worth more than $4 billion in just 7 months since its launch.
Summary
Abraxas Capital’s aggressive buying of Bitcoin amid a quiet market is a sign of institutional confidence in the world’s leading digital asset. Coupled with the robust development of staking solutions and the influx of money into DeFi, the market is quietly laying the groundwork for the next bull run – which could explode after the Easter holidays.