On Christmas Eve, the world's largest asset management firm, BlackRock, caused a major stir in the crypto market. They transferred a total of 2,292 Bitcoins and 9,976 Ethereum, worth $230 million, in one go. And then? A few hours later, they repurchased part of the position. This move immediately sparked market discussion—was it a signal of whales fleeing, or a prelude to a bull market surge?

Honestly, this is institutional-level capital operation. Retail investors can't achieve this level of precision. BlackRock's current crypto portfolio is close to $99 billion, with Bitcoin making up the majority—746,016 BTC, valued at about $82.43 billion, accounting for 83%. Ethereum follows closely, holding 37.62 million ETH.

Many ask why this was done on Christmas Eve. In fact, it's about taking advantage of the relatively low market participation at that time to minimize impact. Institutions never take holidays like retail investors; they are always calculating how to optimize asset allocation. The flow of these numbers and transaction timing are all recorded clearly on the blockchain, which is a public ledger.

Understanding the logic behind this move helps you see why institutions can manipulate the market so effectively. This is not just a single transaction; it's an early layout for the crypto market in 2026.