BlackRock Deposits $181 Million in Digital Assets Amid Crypto Market Slump
- BlackRock deposited $181 million in digital assets on Coinbase Prime during a crypto market downturn.
- The transfer included 612 Bitcoin (BTC) worth $41 million and 68,567 Ethereum (ETH) valued at $140 million.
- The transaction occurred as Bitcoin’s price fell to approximately $66,300 and Ethereum dipped to $1,982.
- Total crypto market capitalization decreased by 3% over 24 hours to $2.4 trillion.
- Cumulative net inflows into BlackRock’s spot crypto ETFs have surpassed $63 billion since their January 2024 launch.
Trading Analysis
Trading Signal: BEARISH (Score: -6)
The deposit coincides with a market downturn, indicating potential bearish sentiment.
Price Levels:
Current: Bitcoin at $66,300 | Ethereum at $1,982
Support: Not specified | Resistance: Not specified
24h/Recent Range for Bitcoin and Ethereum not provided
The significant deposit by BlackRock on Coinbase Prime comes amid a downturn in the crypto market, with notable declines in both Bitcoin and Ethereum prices. This move may suggest a bearish outlook for these assets given the current market conditions.
Source (3.2)https://cryptobriefing.com/blackrock-crypto-transfers-to-coinbase/?rand=59535
