After last week’s significant sell-off, MARA Holdings bought 400 Bitcoins for $46.29 million from the liquidity provider FalconX. The purchase, made through MARA’s “3MYao” wallet, increases the company’s Bitcoin holdings to over 53,000 BTC, maintaining the firm as second only to Strategy’s 640,031 BTC on the Bitcoin treasuries leaderboard.

Blockchain analytics platform, Onchain Lens confirmed: “Mara’s wallet, ‘3MYao,’ bought 400 BTC worth $46.29 million from FalconX, 2 hours ago. Additionally, a newly created wallet, “bc1qr,” received 500 BTC worth $55.9M from BitGo.”

MARA may be considering geo-economic trends and BTC’s potential

Mara’s acquisition follows a rebound at $115,000 as of 00:45 a.m. ET on Monday, after it plunged massively on Friday following record liquidations.

MARA Holdings is positioning itself as one of the main players in Bitcoin accumulation plans that target long-term reserves of such cryptocurrency. The firm has recently done deals with AI and high-performance computing operators, which could signal a move into areas beyond Bitcoin mining.

Crypto markets suffered over $19 billion in losses following President Trump’s announcement that he was canceling a planned meeting with Chinese President Xi Jinping and had ordered a “massive increase” in tariffs on Chinese imports. Trump had acknowledged the move may be painful for US citizens. Bitcoin prices also dipped from $121,000 to $106,000.

Trump’s tariff warning came after Beijing moved to curb exports of rare earths and critical minerals, escalating tensions between the world’s two largest economies.

China subsequently appeared to back away from its stance later in the weekend, and some analysts speculated that a momentary overreaction might have driven the market rout rather than geopolitical posturing.

Markets recovered after Trump toned down his rhetoric via Truth Social, saying he sought to “help China, not hurt it” and calling Xi Jinping “highly respected.”

The leading cryptocurrency is up 5% on the day to $115,100, while Ethereum is up 10.5% to $4,138, according to CoinGecko data. Meanwhile, major altcoins, such as BNB, Solana, and Dogecoin, are up 16.5%, 12%, and 11.4%, respectively.

Pav Hundal, Lead Market Analyst at Swyftx, commented on the liquidations and MARA’s activity, stating, “The market broke down into chaos last week, and almost immediately, everybody was buying. This was the largest liquidation event we’ve seen in crypto, but each time we see resets and the market goes about its business again, which is exactly what seems to be happening with MARA.”

He added that MARA appears to be taking into account geopolitical and economic trends, and that Bitcoin has more room to rise since global rate cuts are possible, given the decline in both oil prices and consumption.

Serroni believes market recovery is a classic price rally

Trump’s tariff threat followed Beijing’s decision to restrict exports of rare earths and key minerals, further straining ties between the world’s two biggest economies. However, China appeared to take a softer line over the weekend, leading analysts to view the market downturn as a temporary geopolitical overreaction.

On Sunday, Beijing labeled Trump’s tariffs “hypocritical,” upheld its export controls, but held off on further retaliation.

Dean Serroni, CEO of crypto investment manager Merkle Tree Capital, has described the market rebound as a textbook example of a relief rally. He also described Ethereum’s 11% surge as a classic short-covering bounce and mean reversion following the market’s exaggerated reaction to Trump’s tariffs.

He added that open interest in derivatives markets is increasing, and last week, the volatile shakeout among overleveraged traders has subsided.

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