BlackRock’s $200M Coinbase deposit raises concerns over further liquidations
Key Takeaways
- BlackRock transferred 18,168 ETH and 1,800 Bitcoin to Coinbase amid market uncertainty.
- Crypto markets faced $1.6 billion in liquidations, influenced by geopolitical tensions and institutional selling.
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Today, BlackRock transferred 18,168 Ethereum ($44 million) and 1,800 Bitcoin ($160 million) to Coinbase amid growing market uncertainty and widespread liquidations in crypto markets.
The deposit comes as Bitcoin fell below $86,000 for the first time since November, while crypto markets experienced $1.6 billion in liquidations over the past 24 hours.
Large entities moving significant amounts of crypto to exchanges are often seen as a signal that they may be preparing to sell.
This trend can lead to further price drops, as other investors may interpret such moves as a sign of weakening confidence or an impending decline.
Market pressure intensified following a $500 million Bitcoin ETF sell-off, coupled with renewed tariff threats from President Donald Trump.
The Crypto Fear and Greed Index dropped to 25, indicating extreme fear and marking its lowest level since September 2024.
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