BlackRock is conducting a massive transfer of Bitcoin ($BTC), with the amount being as much as $100,000 (approximately $1 billion). This transfer may suggest that BlackRock is preparing to sell a large amount of Bitcoin, impacting market prices.
The last similar Bitcoin whale sell-off occurred when market prices fell significantly by about 30%. Three days ago, BlackRock transferred $100,000 worth of Bitcoin to multiple wallet addresses. This operation could indicate two scenarios:
One is that BlackRock is manipulating the market
The other is that they are preparing to completely sell these Bitcoins.
We can roughly speculate that the purchase cost is between $30,000 and $40,000. Considering Bitcoin fluctuates within these price ranges, this may also mean that BlackRock's current investment profits are substantial.
Not long ago, a similar sell-off event occurred with Germany and the Mt. Gox platform, where Bitcoin worth $9 billion was sold, causing the price to drop from $72,000 to $52,000.
When large holders sell Bitcoin, market prices usually experience significant declines.
Recent market trends show strong optimism. Particularly with the increasing volume of Bitcoin purchases at the $100,000 level, which indicates that market liquidity is improving, and liquidity plays a crucial role in market health. This phenomenon suggests that during BlackRock's potential sell-off, there is still enough capital and participants in the market to absorb these sales, thereby maintaining market stability.
The transfer of these Bitcoins may also be a means of market manipulation. Especially in the current market, investors are filled with concerns about the regulation and potential risks of cryptocurrencies.
BlackRock is transferring $100,000 worth of Bitcoin to multiple hidden wallets.
Whether they are preparing to sell these Bitcoins or merely manipulating the market, this will have a significant impact on the market.
