BlackRock Rotates $230M BTC Into ETH as Bitcoin Stabilizes Near $64K After Brutal Week

BlackRock confirmed it sold 3,671 BTC (~$230M) and bought 10,566 ETH (~$17.71M) on June 9, capping a turbulent nine-day period for crypto markets. The chaos began June 1 when Strategy's rare 32 BTC sale sparked a cascade driving Bitcoin to a $59,100 low on June 5 — its weakest since October 2024 — accompanied by $1.46 billion in five-day ETF outflows and an ~$11.2 billion unrealized loss on Strategy's 843,706 BTC holdings. Recovery was anchored by a whale's $98.9M dip buy near the bottom and Strategy's subsequent 1,550 BTC repurchase for $101.3M at $65,332, stabilizing BTC near $64,000, while BlackRock's ETH rotation signals evolving institutional allocation priorities.