Bitcoin Updates: Major Institutions and Companies Drive $429 Million Bitcoin Rally as Whales Employ Advanced Hedging Strategies

Large-scale moves by institutions and whales are significantly influencing the market, as recent on-chain data highlights a notable increase in major crypto adoption.

transactions have surged, with , the globe’s top asset manager, transferring 2,854 Bitcoin (worth $314 million) and 29,639 (valued at $115 million) to Prime in just one day. This move, as reported by , demonstrates ongoing institutional interest in regulated crypto custody. These transfers, part of BlackRock’s broader portfolio strategy, coincide with its expanding crypto ETF lineup and reinforce the platform’s reputation as a reliable venue for institutional crypto transactions, according to .

At the same time, the so-called “BTC OG” whale—renowned for holding Bitcoin long-term—has shifted $593.67 million in Bitcoin across Coinbase, Binance, and Kraken over the last two weeks. The most recent move was a 100

($11.1 million) deposit to Kraken, according to . On-chain analytics services such as Onchain Lens have tracked these transactions, which illustrate strategic liquidity management by major investors and strengthen trust in leading exchanges as secure storage options, as noted by . The whale’s holdings now include a $173 million long position in BTC, a $115 million long in , and a $1.18 billion short in Bitcoin, forming a sophisticated hedging approach amid turbulent markets, according to another report.

Corporate accumulation of Bitcoin is also gaining momentum. Strategy, a publicly listed company focused on Bitcoin, has increased its holdings to 640,418 BTC ($71.1 billion), with an average purchase price of $112,051 per Bitcoin, as reported by

. The company’s “42/42” fundraising initiative targets $84 billion by 2027 to fund additional Bitcoin acquisitions. Strategy now owns over 3% of all Bitcoin in circulation, surpassing competitors like Marathon Digital (53,250 BTC) and 21 Inc. (43,514 BTC). Despite this aggressive buying, Strategy’s stock has dropped 36% from its summer peak, reflecting ongoing market caution toward Bitcoin-related equities.

In a notable development, a long-dormant Bitcoin wallet from the Satoshi era—unused for 14.4 years—became active again on October 24, moving 150 BTC ($16.56 million) to a new wallet, according to

. also noted that the wallet originally contained 4,000 BTC ($440.4 million) and has shown a pattern of gradual selling, while another related address continues to liquidate Bitcoin. Analysts interpret these actions as liquidity indicators, but warn against reading too much into single transactions as predictors of price trends, according to .

Market sentiment is currently mixed. Bitcoin’s price fell to $107,800 on Tuesday, but derivatives data points to a neutral-to-positive outlook as funding rates turned positive and futures open interest climbed to $26.06 billion, as reported by

. On the geopolitical front, events such as the Trump-Xi Jinping summit aimed at easing U.S.-China trade tensions and Trump’s pardon of Binance’s Changpeng Zhao have contributed to a more favorable climate for crypto, according to . Nevertheless, selling pressure remains, with $320 million in liquidations over the past 24 hours, highlighting the market’s ongoing volatility.