BlackRock reportedly sold $980 million worth of Bitcoin.
Unconfirmed news has emerged of a possible $980 million Bitcoin sale by BlackRock. The announcement, published today at 7:00 UTC, has sparked excitement in the crypto community, as it could be one of the largest institutional sell-offs in recent months.
The news comes amid heightened Bitcoin volatility. Traders are closely monitoring liquidity and trading volume on exchanges, anticipating short-term price fluctuations. BlackRock has been a key player in the crypto market since the launch of the iShares Bitcoin Trust (IBIT) in early 2024. This ETF quickly became a leader, amassing $57.5 billion in assets.
Analysts speculate that the selling may be related to profit-taking following Bitcoin's rally at the beginning of the year. It may also be a strategic capital reallocation ahead of expected regulatory changes. There are also concerns that major players could use such news to manipulate the market through a pump-and-dump scheme. However, these assumptions have not yet been confirmed.
A potential BlackRock selloff could cause a short-term liquidity squeeze and increase volatility. While Bitcoin ETFs have previously demonstrated resilience to selling, the scale of this deal could put significant pressure on the market.
BlackRock hasn't made any official announcements yet. Investors are forced to base their strategies on unconfirmed information while awaiting clarification from the company or official details of the deal.
Source: cryptonews.net
