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Alarm is Full! BlackRock Dumped 380 Million Dollars in 3 Hours
On-chain tracking platforms have monitored that BlackRock has deposited 2,610 BTC and 43,240 ETH to Coinbase Prime in the past three hours, totaling 380 million dollars in crypto assets. Such large deposits into exchanges usually indicate a plan to sell, posing a huge spot selling pressure on the current market.
This is the largest scale of direct on-site institutional distribution after the outflow of 870 million and 260 million from ETFs yesterday, reflecting the strong redemption demand from clients of BlackRock's funds. The massive selling by institutions creates a strong hedge against Saylor's bottom-fishing rhetoric, and the market will endure significant volatility in the short term.
This is the largest scale of direct on-site institutional distribution after the outflow of 870 million and 260 million from ETFs yesterday, reflecting the strong redemption demand from clients of BlackRock's funds. The massive selling by institutions creates a strong hedge against Saylor's bottom-fishing rhetoric, and the market will endure significant volatility in the short term.
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