Abraxas Capital Buries Bitcoin Amid Market Volatility Concerns

London-based investment firm Abraxas Capital has made a substantial move, acquiring roughly 2,949 BTC worth over $250 million in the past few days. While large investors and institutions continue to accumulate Bitcoin, concerns arise due to mid-term holders’ (those typically holding for three to six months) fluctuating behavior. Analyst Mignolet’s findings show a significant exodus from this group as approximately 170,000 BTC were recently moved out of this segment, hinting at an impending market shift and potential volatility in the near future. This move comes amidst heightened uncertainty surrounding Bitcoin’s price stability.