Crypto
BlackRock Unloads $10M in Bitcoin to Coinbase Prime
Financial giant BlackRock has made another move in the Bitcoin market. According to recent data, BlackRock transferred roughly $10.07 million from its IBIT ETF wallets to Coinbase Prime. The funds consisted of 158.57 BTC, worth approximately $10.06 million.
This transfer comes as the price of Bitcoin sits within a Bollinger band, with a lower support at $63,048.28 and resistance defined by the EMA50 at $64,574.06 and EMA200 at $63,898.35. The MACD also shows a death cross, which can be a bearish signal.
The institutional Bitcoin ETF movement often aligns with BlackRock's IBIT analysis, which currently flags near-term pressure before any potential BTC price prediction revision.