Overview
- Lookonchain reported transfers of 4,880 BTC (about $467 million) and 54,730 ETH (about $176 million) into Coinbase Prime from wallets it attributes to BlackRock.
- The attribution is based on blockchain forensics and has not been formally confirmed, according to the reporting.
- Bitcoin fell to roughly $94,000 and Ether to about $3,140 after the wallet activity was flagged, reflecting heightened sensitivity to institutional flows.
- The moves followed a record outflow from BlackRock’s Bitcoin ETF and came as CoinShares tracked $689 million in weekly outflows from Ether products.
- Analysts warn that thin liquidity could magnify any subsequent selling, while noting contrasting flows such as Michael Saylor’s reported purchase of 8,178 BTC.