BlackRock just dumped $1 billion of this crypto
BlackRock has made one of the largest crypto moves this year, with outflows worth $980 million worth of Bitcoin on Tuesday, September 23, according to the latest data retrieved by Finbold from Arkham. While the numbers are staggering, the timing of the transfers were also noteworthy, as Bitcoin has been experiencing heightened volatility this week. BlackRock BTC outflows. Source: Arkham As a result, traders are speculating whether another wave of institutional sales is underway now that the broader crypto market is taking a hit as a result of shifting global monetary policy. At the time of writing, the cryptocurrency is trading below $113,000, up 0.49% on the daily but still down 2.20% on the weekly chart. BTC 24 hour price. Source: Finbold While the market might be speculating about the future, BlackRock is still the biggest crypto fund, commanding over $87.5 billion worth of BTC. Moreover, outflows from its iShares Bitcoin Trust (IBIT) on Arkham ...