Over $610 Million in Bitcoin and Ethereum Dumped by BlackRock

BlackRock is reported to have transferred a large amount of Bitcoin and Ethereum to Coinbase Prime over the past 48 hours, adding to concerns that the firm may be preparing to sell amid weak ETF performance and ongoing market volatility. The article says BlackRock moved 7,160 BTC and 98,850 ETH in three BTC batches and one large ETH transfer, with the total value estimated at about $611 million. The repeated transfers have fueled mixed reactions in the crypto market, as investors view them as a sign of caution and potentially bearish pressure on Bitcoin and Ethereum prices. The article suggests the selling may continue until ETF outflows ease and performance improves.