BlackRock Sells $317 Million in Bitcoin Amid Institutional Market Reversal
BlackRock Sells $317 Million in Bitcoin Amid Institutional Market Reversal
Published on
BlackRock's spot Bitcoin ETF faced significant selling pressure, liquidating $317 million worth of Bitcoin. This move contributed to a broader market reversal, as institutional investors pulled hundreds of millions from crypto funds.
Institutional Selling Intensifies Pressure on Bitcoin
According to Utoday, BlackRock, a prominent institutional investor, has reportedly sold $317 million worth of Bitcoin from its spot ETF. This significant divestment highlights a renewed wave of selling pressure in the cryptocurrency market. The report indicates that institutional investors broadly pulled hundreds of millions from various crypto funds, coinciding with a sharp market reversal.