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Bitcoin News Update: "Does BlackRock's $642 Million Crypto Movement Indicate Lasting Bearish Sentiment or Just a Short-Term Dip?"

Bitcoin News Update: "Does BlackRock's $642 Million Crypto Movement Indicate Lasting Bearish Sentiment or Just a Short-Term Dip?"

Bitget-RWA2025/11/21 20:02
By:Bitget-RWA

- BlackRock transferred $642M in BTC/ETH to Coinbase Prime, sparking fears of coordinated crypto sell-offs amid prolonged price declines. - Record $523M IBIT outflow and $903M Bitcoin ETF exodus signal institutional profit-taking, with risk-averse positioning accelerating market downturn. - On-chain data reveals BlackRock's Ethereum accumulation halt, contrasting prior aggressive buying, while retail investors offload 0.36% BTC/XRP holdings. - Analysts debate bear market vs. temporary correction, noting Bi

BlackRock has recently transferred more than 4,880

(BTC) and 54,730 (ETH), with a combined value of about $642 million, sparking heightened worries about a possible wave of crypto selling. Market observers are viewing these moves as in the midst of a prevailing bearish sentiment. The transfers to Coinbase Prime on November 17 and 18, 2025, came after by the investment giant, including a $198 million sale earlier in the month. These developments have about a worsening decline in the market, especially as Bitcoin and Ethereum are trading at their lowest points in months, with dropping under $93,000 and ETH staying close to $2,700.

Concerns over a broader sell-off are being fueled by unprecedented outflows from BlackRock’s leading crypto funds. Its iShares Bitcoin Trust (IBIT)

of $523.2 million on November 19, the largest since the ETF was introduced in January 2024. During the same timeframe, U.S. Bitcoin ETFs experienced a collective outflow of $903 million, while Ethereum ETFs lost $262 million, . These statistics in institutional attitudes, with experts attributing the withdrawals to end-of-year profit-taking and a shift toward safer assets. "Institutional players are at the forefront, as ETF outflows reflect profit-taking and a move to reduce risk," commented Rachael Lucas, a crypto analyst at BTC Markets.

Bitcoin News Update:

On-chain data further highlights the market’s vulnerability. BlackRock’s Ethereum transactions have come under the microscope, as recent wallet activity indicates little new accumulation, a departure from its previously aggressive buying.

, moved 64,707 ETH to Coinbase Prime, fueling speculation about a possible coordinated sale. At the same time, levels but is experiencing short-term instability, with technical signals suggesting further downside risk. The OCC’s recent clarification allowing banks to custody ETH for gas fees has done little to ease market nerves, as broader economic uncertainties persist, including questions about the Federal Reserve’s upcoming policy decisions in December.

There is division among market watchers on whether these trends point to a sustained bear market or just a temporary pullback.

observed early indications of stabilization in Bitcoin, noting a reduction in selling activity and positive momentum divergences. In contrast, argued that Bitcoin’s current weakness—with a 32% chance of reaching $95,000 before $115,000—implies an extended downturn. Retail traders have also 0.36% of their BTC and 1.38% of in recent weeks, a pattern often seen near market bottoms.

The wave of ETF redemptions and institutional withdrawals has set off a chain reaction among altcoins. While XRP ETFs experienced $15.5 million in outflows during their debut week,

of $23.66 million and $118.15 million, respectively. Altcoin performance remains mixed, with and jumping 31% and 11% over 24 hours, though Bitcoin’s market share continues to shrink. that unless there is a significant macroeconomic trigger, any rebound is likely to be confined to select sectors.

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