BlackRock Sells $213 Million in Bitcoin: Market Shaken, BTC Falters Below $100,000
The global cryptocurrency market was shaken once again when BlackRock, the world's leading asset management giant, was recorded transferring more than 2,048 Bitcoin (BTC) — worth about $213 million — to Coinbase Prime, raising concerns about a large-scale sell-off that could push BTC prices below the psychological $100,000 mark.
Not stopping there, BlackRock also increased its Ethereum (ETH) position with 22,681 ETH, equivalent to nearly $80 million, leading many investors to believe that the group is restructuring its digital asset portfolio ahead of the market's volatile period.
🌊 ETF sell-off puts heavy pressure
According to data from Farside Investors, Bitcoin ETFs have experienced four consecutive days of net withdrawals, with total cash flow leaving the market exceeding $700 million in just one week.
In particular, October 29 and 30 recorded a divestment of nearly $1 billion, making institutional investor sentiment more cautious than ever.
The strong selling pressure from ETFs not only pulled Bitcoin down 17% from its historic peak of $126,000 (set in September), but also had a chain effect on other assets in the cryptocurrency ecosystem.
🪙 Spillover effect: Altcoins plummet simultaneously
The decline in liquidity in Bitcoin ETFs quickly spread to the altcoin market, especially the group of Ethereum-based tokens.
Coins like Arbitrum (ARB), Shiba Inu (SHIB) and Pepe (PEPE) all recorded double-digit declines, while Ethereum (ETH) lost more than 7% of its value in just 48 hours.
According to analysts, BlackRock's move could be a preparation for a market revaluation cycle, as institutional capital seeks to rebalance risk and return.
💬 Market Perspective: “Red” Signal or “Green” Opportunity?
Experts say that BlackRock's partial Bitcoin sale is not necessarily an absolute negative sign. Some theorize that this could be a technical adjustment in its digital asset rebalancing strategy, especially as ETFs rebalance their portfolios quarterly.
However, given the fragile market sentiment, any major move by institutions like BlackRock could trigger a chain reaction.
If BTC loses the $100,000 mark, analysts warn that the price could slide to the $92,000–$95,000 range before new bottom-fishing buying pressure emerges.
📉 Conclusion
BlackRock’s $213 million sale has rekindled fears of “institutional dumping” that caused the market to plummet in previous cycles.
While some investors see this as an opportunity to re-accumulate, the majority of the market is still in a defensive stance, waiting for the next reaction from major Bitcoin ETFs.
In short: The crypto market is entering a sensitive phase, where each move from a “big guy” like BlackRock can shape the short-term trend of the entire crypto market.