Bitcoin News Update: "Does BlackRock's $642 Million Crypto Movement Indicate Lasting Bearish Sentiment or Just a Short-Term Dip?"
- BlackRock transferred $642M in BTC/ETH to Coinbase Prime, sparking fears of coordinated crypto sell-offs amid prolonged price declines. - Record $523M IBIT outflow and $903M Bitcoin ETF exodus signal institutional profit-taking, with risk-averse positioning accelerating market downturn. - On-chain data reveals BlackRock's Ethereum accumulation halt, contrasting prior aggressive buying, while retail investors offload 0.36% BTC/XRP holdings. - Analysts debate bear market vs. temporary correction, noting Bi
BlackRock has recently transferred more than 4,880
Concerns over a broader sell-off are being fueled by unprecedented outflows from BlackRock’s leading crypto funds. Its iShares Bitcoin Trust (IBIT)
On-chain data further highlights the market’s vulnerability. BlackRock’s Ethereum transactions have come under the microscope, as recent wallet activity indicates little new accumulation, a departure from its previously aggressive buying.
There is division among market watchers on whether these trends point to a sustained bear market or just a temporary pullback.
The wave of ETF redemptions and institutional withdrawals has set off a chain reaction among altcoins. While XRP ETFs experienced $15.5 million in outflows during their debut week,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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