BlackRock moves $358M in Bitcoin to Coinbase as price drops toward $69,000

BlackRock, the world's largest asset manager, moved approximately $358 million worth of Bitcoin (5,080 BTC) and $57 million worth of Ethereum (27,196 ETH) into Coinbase Prime. This transfer, observed by Arkham Intelligence, occurred as Bitcoin's price declined, falling below $71,000 and reaching $69,200 at the time of reporting, representing a 22% decrease in the last week. These movements align with a pattern of large transfers observed earlier in the week, which often precede significant market activity. Notably, BlackRock’s IBIT ETF experienced approximately $373 million in net outflows on Wednesday, contributing to a collective $545 million outflow from US spot Bitcoin ETFs. The broader crypto market experienced over $1 billion in leveraged liquidations in the past 24 hours, primarily affecting long positions. As of this report, Bitcoin is down over 20% year-to-date in 2026, while Ethereum has seen a more substantial decline of roughly 30% since January.

(Source：Crypto Briefing)