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UK firm buys 0M Bitcoin as analysts eye quiet Easter weekend

Whales and institutions are increasing their Bitcoin holdings ahead of Easter, as market analysts predict a weekend with less volatility after two weeks of heightened volatility driven by escalating global trade tensions.

London-based investment firm Abraxas Capital acquired 2,949 Bitcoin (BTC) worth more than $250 million during the four days leading up to April 19.

In the latest transaction, the firm bought over $45 million worth of Bitcoin from Binance on April 18, according to crypto intelligence firm Lookonchain, citing Arkham Intelligence data.

UK firm buys $250M Bitcoin as analysts eye quiet Easter weekend
Source: Arkham Intelligence, Lookonchain

The investment came days after Michael Saylor’s Strategy bought $285 million worth of Bitcoin at an average price of $82,618 per BTC, as the world’s largest corporate Bitcoin holders signal continued confidence in Bitcoin, amid global tariff uncertainty.

Large Bitcoin investors, or whales, continue accumulating, absorbing over 300% of Bitcoin’s yearly issuance as exchanges continue losing coins at a historic pace, Cointelegraph reported on April 18.

Related: Spar supermarket in Switzerland starts accepting Bitcoin payments

Crypto analysts eye quiet Easter weekend after weeks of turmoil

Despite continued accumulation from whales and institutions, volatility concerns were raised by significant movements from the medium-term Bitcoin cohort, which holds coins for an average of three to six months.

Over 170,000 Bitcoin entered circulation from the medium-term cohort, a development that may signal “imminent” crypto market volatility, according to pseudonymous CryptoQuant analyst Mignolet.

“The effect of this metric on LTF moves is overstated as large onchain movement of coins hardly ever affects weekend price action since it’s not on liquid markets or CEX markets,” analysts at Bitfinex exchange told Cointelegraph, adding:

“It is important to note that funding rates remain relatively flat currently. Moreover, US markets are closed as we have a long weekend for Easter, so volatility could be suppressed barring headlines from the White House.”

Related: Crypto, DeFi may widen wealth gap, destabilize finance: BIS report

Marcin Kazmierczak, chief operating officer of RedStone Oracles, added that the recent movements may be operational transfers, not necessarily signs of imminent selling pressure.

Still, concerns over weekend volatility have been amplified over the past two weeks after the Mantra (OM) token’s price collapsed by over 90% on Sunday, April 13, from roughly $6.30 to below $0.50, triggering market manipulation allegations and highlighting “critical” liquidity issues in the industry.

Two weeks ago, on April 6, Bitcoin fell below $75,000 on Sunday, as investor concerns spread from a record-breaking  $5 trillion sell-off from the S&P 500, its largest on record.

UK firm buys $250M Bitcoin as analysts eye quiet Easter weekend
BTC, SPX, year-to-date chart. Source: Cointelegraph/TradingView

The correction was caused by Bitcoin’s 24/7 trading availability, which made it the only large liquid asset available for de-risking on Sunday, Blockstream CEO Adam Back told Cointelegraph.

“On a weekend, there’s not much volume. So you have a worse risk of rapid sort of flash crashes or flash dips that get filled in again,” he said.

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

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Man charged with stalking after allegedly targeting Lib Dem leader Sir Ed Davey and his family

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Man charged with stalking after allegedly targeting Lib Dem leader Sir Ed Davey and his family

A man has been charged with stalking and possession of a flick knife after allegedly targeting Lib Dem leader Sir Ed Davey and his family.

Inigo Rowland, 58, of Surbiton, south London, was arrested last Monday, but it was only made public on Sunday.

He appeared at Wimbledon Magistrates’ Court on Tuesday and was remanded in custody, the Met Police said.

The offences are alleged to have taken place between June and October.

Sir Ed, the MP for Kingston and Surbiton, lives in southwest London with his wife, Emily, their 17-year-old son John, and his younger sister Ellie.

A spokesperson for the Met Police said: “Inigo Rowland, 58, of Surbiton has been charged with stalking and possession of a flick knife.

“He appeared at Wimbledon Magistrates’ Court on Tuesday, 7 October and was remanded into custody. He will next appear at the same court on Tuesday, 14 October.

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“He was arrested on Monday, 6 October in relation to the offences, which are alleged to have taken place between June and October.”

A Lib Dem spokesperson said: “We cannot provide any details at this time, Ed’s number one priority is the safety of his family.”

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Investigation ties 100,000 BTC Hyperliquid whale to former BitForex CEO

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Investigation ties 100,000 BTC Hyperliquid whale to former BitForex CEO

Investigation ties 100,000 BTC Hyperliquid whale to former BitForex CEO

An investigation has tied the Hyperliquid whale controlling over 100,000 BTC to Garrett Jin, the ex-BitForex CEO whose exchange collapsed amid fraud probes.

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Plaid Cymru leader was ‘turned down’ for meeting with PM, he claims

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Plaid Cymru leader was 'turned down' for meeting with PM, he claims

Calls for a meeting with Prime Minister Sir Keir Starmer have been snubbed by No 10, the leader of Plaid Cymru has told Sky News.

Rhun ap Iorwerth, who has served as leader of the Welsh nationalist party since June 2023, is looking likely to become Wales’s first minister next May, but when he asked to meet with Sir Keir after his election last year, he says he was turned down.

Speaking with Sky News’ political correspondent Liz Bates, Mr ap Iorwerth said he had “never” had a conversation with the prime minister but it was “not because I haven’t tried”.

He added: “When I contacted the prime minister to ask for a meeting, after his election last year, I was turned down and it was passed on to the Secretary of State for Wales.

“People can read into that what they want.

“I’ve spoken very openly about wanting to have a constructive relationship with the UK prime minister.”

The former journalist said in his reporting days he had not interviewed Sir Keir and now, in politics, their “paths had never crossed” but he said he felt it was “important”.

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“I have certainly asked if we could meet. And that is certainly something that I would still love to happen,” he said.

Mr ap Iorwerth said a conversation would be key because if he became Welsh first minister, there would be “serious negotiations on serious issues around funding for Wales – on investing in infrastructure in Wales, on the future of how we’re able to influence and use our natural resources in Wales”.

“So I want to have that constructive relationship,” he said.

In an apparent nod to current Labour first minister Eluned Morgan, Mr ap Iorwerth said Sir Keir would be in “no doubt” that his loyalty “would always be to the people of Wales”.

He said: “I won’t be pulling my punches in order to save the Labour Party embarrassment.

“I’ll be really laying out what’s in the interest of Wales. And that’s, I think, a fundamentally different relationship. But it has to be, and I want it to be, a constructive one.”

The next Senedd election is May 2026, when voters in Wales will elect 96 members for the first time – an increase of more than 50% from the current 60.

Welsh politics has traditionally been dominated by Labour.

Labour’s grip on Wales sliding?

Welsh Labour MPs have been the largest group sent to Westminster in every general election since 1922 – and the party has been in government in the country for more than a quarter of a century.

But if the polls are accurate, Labour’s long-standing grip on politics in Wales is fading.

Plaid Cymru and Reform UK are running almost neck and neck, while Labour trails significantly.

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