BlackRock sells $340 million in Bitcoin and Ether, market rebound meets cold water.

Source: TokenPost Original Title: BlackRock Sells $340 Million in Bitcoin and Ethereum, Dousing the Rally Original Link: BlackRock has once again conducted large-scale Bitcoin ( BTC ) and Ethereum ( ETH ) transactions, putting pressure on the market. According to on-chain data analysis company Lookonchain, BlackRock deposited a large amount of cryptocurrency into a compliant platform's Prime account again on November 24 local time, indicating its trading intentions.

This time, the quantity transferred by BlackRock was 2,822 Bitcoins and 36,283 Ethereums, totaling approximately $344 million ( about 44.96 billion KRW ). Among them, the Bitcoins alone accounted for about $244 million ( about 31.86 billion KRW ), while the Ethereums were approximately $102 million ( about 13.32 billion KRW ). This transaction was completed in a matter of minutes and quickly impacted the market.

BlackRock traded over $2 billion ( approximately 2.6 trillion Korean won ) of BTC and ETH last week, indicating a recent shift towards an active “monetization” strategy. Despite the market showing signs of rebound, BlackRock continues to primarily focus on trading strategies centered around major assets rather than altcoins or meme coins.

Currently, Bitcoin has decreased by 0.57% compared to the previous day, trading at $86,237(, approximately 116 million won). Ethereum has increased by 0.34%, trading at $2,828(, approximately 3.81 million won). Some analysts believe that BlackRock has adopted a strategy of significantly reducing positions to cope with market uncertainty and volatility. However, BlackRock has not yet made a formal statement.

Therefore, some market experts are concerned that BlackRock's re-trading may dampen short-term rebound expectations, instead shrinking investment sentiment. If BlackRock's position liquidation expands to the overall trends of institutional investors, it could have a negative impact on the entire market.

Market Interpretation

Despite the recent market rebound, BlackRock continues to liquidate major cryptocurrencies. This suggests a possible slowdown in short-term recovery or an adjustment by the end of the year.

Key Strategies

In the short term, it is necessary to manage the risk of price decline caused by large-scale trading flows. However, considering that this may only be the strategy of a single institution rather than the entire market, its locality also needs to be taken into account.

Terminology Explanation

• A compliance platform Prime: A dedicated cryptocurrency trading platform for institutional investors
• On-chain data: Transaction data recorded on the blockchain, which can be analyzed to track the flow of funds in real-time.
• Main assets: refer to foundational assets such as Bitcoin and Ethereum, which are ranked high by market capitalization.