Bitcoin, the world’s top digital asset, surged by over 20% Monday from last week’s lows, with major altcoins following suit. The crypto’s rally immediately came after US President Donald Trump’s announcement that the administration is considering a strategic reserve covering Bitcoin, Solana, Cardano, Ethereum and XRP. Bitcoin’s response was immediate—from a low of $85k on March 2, the alpha coin bounced past $90k on Monday.
The day’s price action also came with massive fund movement, particularly among old Bitcoin wallets. According to CryptoQuant, old BTC whale wallets between seven and 10 years old transferred around 180 BTC immediately after the asset’s price rebounded from its lows and flirted with $96k.
Whales On Alert As Bitcoin Briefly Surged Past $90k
Monday’s Bitcoin price action created a ripple effect in the broader crypto market. As its price briefly strengthened, other major altcoins like XRP and ADA followed suit. For example, XRP even surged by more than 30% on Monday, becoming one of the best-performing assets for the day.
However, other interesting developments happened on-chain, according to an analyst. Maartunn, CryptoQuant on-chain analyst, shared an interesting screenshot showing trading activities among Bitcoin long-term holders.
🚨 Old Bitcoin Alert
Serious movement of 7+ year-old BTC as price surges past $95K! 📈 pic.twitter.com/ti3eJAkfCp
— Maartunn (@JA_Maartun) March 3, 2025
In a Twitter/X tweet, Maartunn shared an image showing a spike in activity for seven to 10-year-old wallets. On-chain data revealed that these wallets moved over 180 Bitcoins as the price hit $96k. In addition, wallets holding BTC for at least 10 years have moved 120 tokens as well.
Huge Whale Moves Due To Impatience With BTC Price?
Bitcoin’s price rally was short-lived, as it has retreated to below $85k. In the last 24 hours, the top crypto asset has traded wildly between $83k and $93k. The asset’s price is down 8.8% from last week’s level and 16.4% from last month’s.
Bitcoin’s data and trading patterns suggest that some whales and long-term holders are getting impatient with its price performance. An analytical exposition also indicates that fund transfers have increased among investors who entered before the last two halvings.
Heavy Movements Noted On Crypto Wallets Between 5 And 7 Years Old
Maartunn also noted the shift in funds among wallets between five and seven years old. As Bitcoin’s price hovered around $93k, these addresses transferred 1,453.40 units. These movements suggest sales, indicating a possible loss of enthusiasm.
Interestingly, these wallets have purchased Bitcoin at around $25,000, meaning these holders have realized a staggering profit given the asset’s current price of $83k. While these whales unloaded some of their holdings, some crypto analysts remain bullish on Bitcoin. Ali Martinez, for example, suggested that Bitcoin’s price is at a bargain. In a recent tweet, Martinez shared that now is the best time to invest in Bitcoin.
Featured image from Pexels, chart from TradingView
Christian Encila
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
