The recent Bitcoin (BTC) price struggles have led to people carefully monitoring every event around the market, which could affect its performance. Of these, BlackRock selling news is gaining the most attention, as reports suggest that it has transferred millions of assets to Coinbase Prime. Investors fear further market crashes, so what’s happening? Let’s discuss.
BlackRock Bitcoin Transfer Gives Chills to Investors
BlackRock is a renowned asset custodian and issuer of the IBIT ETF. As a custodian, it holds assets on behalf of investors and often conducts transactions for various purposes. However, its recent transfer of 1,800 BTC ($160M) to Coinbase Prime puts it in a tough spot, as investors understand it as a possible sell-off.
Along with the BTC transfer, the ETF provider also transferred 18,168 ETH ($44M), bringing the total to $204M.
Meanwhile, the Bitcoin price crashed to $88.16k, adding extra fears among investors and speculation about selling. This is because a move to
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