BlackRock Moves $270M in Bitcoin and Ethereum to Coinbase Amid Outflows
- BlackRock deposited approximately 2,563 Bitcoin worth $173 million and 49,852 Ethereum valued at $97 million into Coinbase Prime.
- The company’s spot Bitcoin ETF experienced around $368 million in net outflows over the past three days.
- A total of $404 million was withdrawn from all US Bitcoin ETFs during this period.
- BlackRock’s Ethereum fund saw a reduction of $104 million in the same timeframe.
- The transfers occurred following a crypto market rebound linked to White House discussions on stablecoin yields with banks and crypto firms.
Trading Analysis
Trading Signal: BULLISH (Score: +7)
The recent market rebound and strategic asset movement by BlackRock suggest positive momentum for crypto integration with traditional finance.
Price Levels:
Current: $67,500
Support: Not specified | Resistance: Not specified
24h/Recent Range: Not specified
Catalysts & Timeline:
• Near-term: Continued discussions on stablecoin frameworks
BlackRock’s significant asset transfer to Coinbase Prime aligns with recent crypto market movements, including a rise in Bitcoin prices following White House talks. The trading outlook for $BTC remains bullish amid these developments.
Source (3.2)https://cryptobriefing.com/blackrock-crypto-deposits-coinbase-prime/?rand=59535
