The American digital asset management behemoth BlackRock has just deposited a whopping 2,048.2 Bitcoins (BTC) to Coinbase Prime, shelling out another bearish signal in the already volatile market. Aside from the BTC sell-off, BlackRock added 22,681 Ethereum (ETH), worth nearly $80 million as of press time.
Market Confidence Shaken Amid ETF Meltdown
As Bitcoin (BTC) slid to $103,293 to register a new three-month low, this marks a 17.3% backslide from the showpiece digital asset’s all-time high (ATH) of $126K, scored 29 days ago. Notably, institutional players like BlackRock tend to do this ahead of a stronger pullback, also falling in line with the humongous outflows in ETFs.
According to Farside Investors, Bitcoin (BTC) has recorded four days in a row of negative flows with at least $186 million leaving the ETF markets a day. October 29 & 30 was particularly intense for Bitcoin ETFs, slimming by nearly $1 billion in two business days.
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While this has favorably slowed this week, the contagion has spread onto Ethereum (ETH), as Ether ETFs started the week off with a $135.7 million outflow on Monday. Naturally, this has touched ETH-based altcoin prices, with Arbitrum (ARB), Shiba Inu (SHIB) & Pepe Token (PEPE) all dipping in double-digit percentages.
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BlackRock, the digital asset manager, transferred 2,043 BTC ($213 million) from its IBIT ETF to Coinbase on November 4, 2025, sparking sell-off fears.
Such large transfers to exchanges often signal potential sales by institutions, which can pressure prices downward amid cautious market sentiment.
BTC has dipped below $102,000, with analysts warning of a possible sub-$100,000 price crash if the selling accelerates.
Not confirmed—transfers like this are routine for liquidity or rebalancing, but the timing during a pullback raises red flags.
IBIT saw $291 million outflows on October 30, part of $490 million total BTC ETF redemptions, reflecting short-term uncertainty.
