Lahore, Pakistan – June 5, 2025 – In a significant development reverberating through the cryptocurrency markets, investment giant BlackRock has reportedly begun selling off a portion of its Bitcoin $BTC holdings. This move comes after a prolonged period of consistent accumulation, raising questions about the immediate future of Bitcoin's price trajectory.
According to on-chain data and market reports, BlackRock deposited 4,113 BTC (valued at approximately $429.4 million at the time) to Coinbase Prime on June 2, 2025, marking its first notable selling activity after more than a month of continuous buying. This sale contributed to a broader trend of net outflows from spot Bitcoin ETFs, which recorded a combined $616.1 million in outflows on May 30, following a ten-day net inflow streak.
BlackRock's iShares Bitcoin Trust (IBIT), one of the most successful spot Bitcoin ETFs since its launch in early 2024, has seen substantial inflows, reaching nearly $70 billion in assets as of May 2025. However, the recent sales suggest a shift in strategy or tactical rebalancing.
Current Market Context:
Bitcoin Price: As of June 5, 2025, Bitcoin is trading around $105,000, having experienced a slight decline in the past 24 hours and a 4.51% decrease over the last seven days. This puts it roughly 8% below its all-time high of $112,000 reached last month. Analysts are closely watching the $105,000 support level, with some predicting a potential dip to $97,000 if it fails to hold.
Binance's Role: Binance continues to be a dominant force in the Bitcoin spot trading market. Its share of Bitcoin spot trading volume has increased from 26% to 35% since early June, indicating robust activity on the platform. This surge in trading volume on Binance, alongside renewed accumulation by long-term holders and significant Bitcoin outflows from other exchanges like Kraken and Bitfinex, points to underlying structural positioning within the market.
Institutional Sentiment: While BlackRock's recent sale has drawn attention, other institutions are still showing strong interest in the crypto space. JPMorgan, for instance, is reportedly planning to accept spot Bitcoin ETFs as loan collateral. Moreover, prominent figures like Michael Saylor and various analysts continue to project significantly higher Bitcoin prices in the long term, with some forecasts reaching $1 million or more by 2030, driven by continued institutional adoption and macroeconomic factors.
This development from BlackRock, a key player in the institutional adoption of Bitcoin, is being closely watched by the market, highlighting the ongoing volatility and evolving dynamics within the cryptocurrency ecosystem.
