Bitcoin News: Two Prime Offloads $274M in BTC, Will Price Drop?

Key Insights:

• Bitcoin news showed that lending firm Two Prime recently transferred $274 million in BTC to Ceffu.
• It then withdrew $173 million proceeds in USDT.
• However, analysts remain positive on the future of BTC price despite it being stuck in a range-bound pattern currently.

In the latest Bitcoin news, crypto lending firm, Two Prime, has been involved in giant BTC transfers. Blockchain data reveals that the entity has offloaded nearly $274 million worth of BTC in the last one week.

Bitcoin News: Two Prime Moved $274M BTC To Ceffu

As per statistics from blockchain analytics platform Arkham Intelligence, Two Prime transferred 3,946 Bitcoin worth around $274 million over the last seven days.

The Bitcoin news activity involved deposits to the institutional custody service Ceffu while large withdrawals in stablecoins were recorded. Transaction history indicates that Two Prime’s wallets were involved in a number of large transfers.

In the latest transfer, the company shifted 1,446 BTC worth $101.7 million to a Ceffu deposit wallet. The previous transactions involved two Bitcoin transfers of 1,068 BTC each, each valued at approximately $73.9 million, between Two Prime-related wallets.

Earlier this week, these wallets witnessed several other significant BTC movements. Two days prior to Lookonchain’s data snapshot, Two Prime initiated a transaction of 971.97 BTC, valued at $65.6 million, towards a Ceffu depository address.

At the time, there were two other transactions of 1,350 BTC each worth around $91.7 million that flowed between Two Prime’s addresses.

Data also reveals numerous stablecoin transfers between custody wallets and a Two Prime address. Several transactions involving $10 million USDT each, along with another transfer of $6.8 million were withdrawn from Ceffu custody wallets to Two Prime’s addresses.

This Bitcoin news move depicts that the BTC stash was sold with $173 million in proceeds.

Bitcoin Institutional Buying Surges

On the contrary, these big moves appeared when institutional Bitcoin purchases took over the market. Strategy Inc., which is headed by executive chairman Michael Saylor, snapped up nearly $1.3 billion of Bitcoin.

Regulatory filing indicated that Strategy purchased 17,994 BTC in the period between March 2 and March 8. The acquisition was funded by $900 million via the sale of Class A common stock. The other $377 million was raised through at-the-market sales of its “Stretch” preferred shares.

In another Bitcoin news, Vivek Ramaswamy’s Strive Inc. investment firm also enlarged its Bitcoin treasury. The corporation included 179 BTC to its balance sheet, upscaling its reserve to 13,311 BTC.

What Analysts Say About BTC Price?

In the meantime, analysts are optimistic on Bitcoin’s potential as they monitor macro trends and Bitcoin news updates.

Crypto trader Michaël van de Poppe pointed to technical signals in the Bitcoin-to-gold ratio chart.

Bitcoin News: BTC Vs. Gold Chart | Source: Michaël van de Poppe | X

“Bitcoin vs. Gold is currently breaking upwards after a confirmation of the bullish divergence. This should indicate that we’re about to see significantly more strength in Bitcoin,” he wrote on X.

Poppe’s chart provides insight into Bitcoin vs. gold in a daily timeframe. It depicts a long-term declining trend in the ratio until the end of 2025 and the beginning of 2026, when the price goes below a downward-moving average.

However, in the recent past, the ratio has started to develop higher lows on an upward-moving support line with the momentum indicator above the chart. This indicates a bullish divergence, where the momentum in the upward direction continues to trend as the price weakens.

Another analyst Ali Martinez observed that the BTC price is stuck inside a specified trading range. On X, Martinez stated that “Bitcoin remains rangebound between $71,827 and $62,772.”

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