BlackRock is on the move! In the middle of the night, they transferred 317 BTC to Coinbase, are they trying to crash the market or just putting on a show?

This big brother BlackRock secretly moved 317.594 bitcoins to Coinbase 3 hours ago!

That's not a small amount, at current market prices, it's about 13 million US dollars. They just transferred it without hesitation, and it was done in the middle of the night.

What does the captain think?

This is quite interesting. Who is BlackRock? A traditional asset management giant that has been aggressively entering the bitcoin spot ETF market since last year, holding a significant amount of BTC.

Suddenly transferring coins to an exchange could mean a few possibilities:

1. Preparing to sell? But the amount isn't particularly large, it seems more like testing the market or rebalancing;

2. Preparing for a swap? They might be moving to another custody address or preparing for liquidity;

3. Signal testing? Large institutions often have follow-up actions, possibly paving the way for bigger moves.

To be honest, 300+ BTC has limited impact on the market; the key is the "signal significance."

When BlackRock moves, a bunch of institutions will follow and watch—are they looking to reduce their positions? Do they think the peak has been reached?

This could easily trigger retail investors to follow suit.

What impact will this have on the market?

In the short term, it might slightly increase pressure, especially on a psychological level. But if it's just normal rebalancing, there's no need for excessive interpretation.

The focus should be on what comes next: If they continue to deposit into exchanges, then we need to be cautious; if it's just a single transaction, it's likely a routine operation.

What should players do?

Don't panic! Remember the captain's three phrases:

1. Don't follow large institution operations, there's information asymmetry, you can't keep up;

2. Hold your own positions well, don't be swayed by one or two on-chain transfers;

3. Keep an eye on BlackRock ETF's net inflow data, that's the true market indicator!

Is BlackRock's recent operation a "smoke screen" or a "prelude"? Tonight in the village, the captain will take you through its on-chain trajectory over the past three months to see what the giants are really planning!

Want to know how I, the captain, helped my brothers in the village avoid pinning and set precise ambushes? Follow @船长趋势 to join the captain's villagers in every attack! The captain will announce specific entry times and real-time news in the village every day! #ETH #加密市场观察