$1.3 Billion Dark Pool Sell Order: Breaks Through $77k in 10 Minutes


According to TradingView data, the trade occurred on Tuesday of this week at 2:30 PM UTC. Bitcoin's price dropped from $77,875 to $76,720 within 10 minutes, a decline of 1.5%. Afterwards, Bitcoin continued to face downward pressure, reaching the day's low of $75,600 about 12 hours later, with a total daily decline of 2.8%.

Bloomberg ETF analyst Eric Balchunas pointed out that this 29.2 million IBITs traded at a price of $43.16 each, more than 22 times the second-largest IBIT sell order of the day. Dark pools are private trading platforms commonly used by institutional investors to avoid public market price fluctuations, but such a massive single sell pressure still instantly transmitted to the crypto market.
IBIT-2.19%
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