Monero price surges over 50% amid suspicious Bitcoin transfers

On Monday, April 28, 2025, Monero (XMR) experienced an impressive surge of over 50% within just a few hours, according to data from major exchanges. The unexpected rally has triggered a wave of discussion across the crypto community, with speculation surrounding its causes.

Unusual Bitcoin Activity Linked to the Price Spike

According to on-chain analyst ZachXBT, the rally may have been fueled by a suspicious transfer involving 3,520 BTC, valued at approximately $330.7 million. ZachXBT reported that the funds were moved early Monday and subsequently laundered through six or more instant exchanges, where they were converted into Monero. This rapid influx of demand likely drove XMR’s price sharply upward.

The analyst also suggested that, based on the available evidence, it is «highly probable» that the incident was not associated with North Korean hackers, who are often suspected in similar large-scale crypto activities.

Technical Patterns and Market Sentiment

In addition to the unusual transfer, technical indicators pointed to bullish momentum. Monero successfully broke out of an ascending triangle formation on the daily chart, typically seen as a sign of potential continuation in an upward trend. The Relative Strength Index (RSI) also confirmed growing buying pressure, supporting further gains.

Moreover, open interest for Monero futures contracts reached its highest point of the year, signaling increased participation from both institutional and retail investors. Analysts note that the renewed interest in privacy coins comes amid rising concerns about financial surveillance and tightening regulatory measures globally.

Despite the optimism, market experts remind traders to remain cautious due to the high volatility that often characterizes privacy-focused cryptocurrencies like Monero.