BlackRock, the issuers of the most successful Bitcoin (BTC) exchange-traded fund (ETF) is carrying on their gradual BTC sales. This time, crypto’s big boys cashed out 1,134 Bitcoins to Binance, also depositing 7,255 Ether (ETH) tokens along the way. With many crypto market watchers suspecting a dump, the markets took a bright turn hours after the multi-million sell-off.
2026 Kicks Off Strong, But Bitcoin’s Still Range-Bound
The on-chain sleuths at LookOnChain said the Bitcoin (BTC) sales were worth $101.4 million at stamped transaction time, while Ether’s sales accounted for $22.1 million. Usually, BlackRock’s Bitcoin moves apply short-term sell pressure, but the routine operation didn’t reflect on the price this time as BTC’s bulls regained the steering wheel.
On the contrary, Bitcoin’s price restored the key $90K resistance level after a week’s hiatus. As of Friday evening, BTC’s price got rejected at the $90K resistance line again, which aligns with one of the three 2026 scenarios for the apex crypto asset. Crypto Quant’s analysts point to a range-bound structure between $90K to $120K, likely to take over for the bigger part of the year.
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BlackRock transferred 1,134 BTC (worth ~$101.4M) from its wallets to Coinbase Prime—likely for ETF liquidity management or redemptions.
On-chain data shows deposits to exchanges, often tied to sales or rebalancing. It continues late-2025 patterns, but analysts call it routine operations.
BTC trades resilient near $95K, holding support despite the move—minimal dip, quick recovery on low holiday volume.
Institutions re-balance portfolios at year-start; follows Dec 31 outflows (~$99M from IBIT) amid profit-taking after 2025 highs.
Short-term pressure possible, but ETF structure absorbs it. Long-term holders see it as noise—fundamentals strong with ongoing accumulation elsewhere.
