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Crypto

BlackRock Sells $271M Worth of BTC as Bitcoin Prices Plummet

Guavy AI Editorial Team
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BTC
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Bitcoin prices dropped by 2.8% to around $63,524 after BlackRock transferred $271 million worth of Bitcoin to Coinbase Prime.

This move indicates preparation for institutional selling and is historically linked to asset liquidation.

The transfer coincides with a bearish shift in Bitcoin ETF flows, which saw $476 million in net outflows.

Technical indicators suggest continued downward pressure on Bitcoin, and the prices may drop further unless it recovers above key resistance levels.

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