Opinion: BlackRock May Sell Off $506 Billion Worth of Bitcoin and Ethereum
According to a report by Digital Asset cited by Jinse Finance, BlackRock has transferred BTC and ETH worth $366 million to an exchange, suggesting a potential large-scale sell-off. Data from LookOnChain shows that on August 21, BlackRock moved 1,885 Bitcoins and 59,606 Ether to an exchange, with a total value of $366 million. The market is divided in its interpretation of BlackRock's asset transfer. Some analysts believe this may simply be a portfolio rebalancing, while others think it could reflect weakening sentiment among institutional investors. BlackRock's large-scale transfer of digital assets has heightened market anxiety, especially as Federal Reserve Chair Jerome Powell is about to deliver a speech. According to CoinMarketCap data, on August 22, Bitcoin was trading at $112,975.31, down 0.61% from the previous day; Ethereum was trading at $4,280.45, down 0.22%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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