🚨Big moves by BlackRock in cryptocurrencies! Is a new drop for BTC and ETH coming? 🚨📉
BlackRock, the investment firm with the most assets under management in the world, has made significant transfers of bitcoin (BTC) and ether (ETH) to Coinbase Prime. These moves have raised fears of increased selling pressure in the cryptocurrency market. BlackRock transferred 1,800 BTC (approximately USD 160 million) and 18,168 ETH (approximately USD 44 million).
Normally, these transfers to exchanges indicate a selling intention, which has exacerbated bearish sentiment. Bitcoin fell to USD 86,000, its lowest price in over three months. The transfers come from BlackRock's spot bitcoin and ether ETFs, suggesting a need for liquidity to redeem investors. Despite these drops, some specialists believe that BlackRock could be looking to buy BTC at lower prices. The hacking of the Bybit exchange and the controversial launch of the LIBRA token in Argentina have contributed to market volatility.