"Sell signal?"… BlackRock transfers $600 million worth of Bitcoin and Ethereum

Source: BlockMedia Original Title: “Sell Signal?”… BlackRock Moves $600 Million in Bitcoin and Ethereum to Coinbase Original Link: The world’s largest asset management firm, BlackRock(BlackRock), has transferred large amounts of Bitcoin(BTC) and Ethereum(ETH) to exchanges, once again stirring tension in the cryptocurrency market. The repeated deposit movements on exchanges have led the market to be cautious about the possibility of large-scale sell-offs.

On the 22nd(local time), digital asset analyst Jacob King reported that BlackRock transferred a total of $603 million worth of digital assets to a regulated platform. Cryptocurrency analyst Jacob King cited Arcane Intelligence data, analyzing that BlackRock moved approximately $356.7 million worth of 3970 BTC and $247.1 million worth of 8,281 ETH. This is considered one of the largest single-day fund movements in 2026.

Just ten days ago, BlackRock also sold about $361 million worth of Bitcoin and Ethereum through a regulated platform. Considering this precedent, the recent deposit is also interpreted as a preemptive move to prepare for additional cashing out. The large volume transfer, which coincided with a period when the market was showing signs of recovery amid easing geopolitical risks, has simultaneously raised concerns about increased circulating supply and price dilution.

Prices reacted immediately. Bitcoin surged to a high of $94,030 during the day but could not withstand selling pressure and fell 0.45% from 24 hours earlier to $89,419. Trading volume also shrank by 13.89% to $47.2 billion. Ethereum, breaking through the psychological support level of $3,000, fell 0.56% to $2,958.45.

However, not all market sentiment is pessimistic. Anthony Scaramucci, founder of SkyBridge Capital, maintains his previous outlook that Bitcoin could rise to $150,000 in the medium to long term. He pointed out that the delay in price increases is due to the slowdown in legislative and institutional reforms, and if regulatory clarity is achieved, a strong rally could occur once again.

Among investors, there is ongoing low-cost buying activity centered around Ethereum even amid increased volatility. As BlackRock’s repeated asset releases test the market’s resilience, the buying and holding strategies of institutional investors are expected to become key variables influencing short-term price movements.