BlackRock just dumped nearly 800 Bitcoin worth millions

BlackRock , the world’s largest asset manager, has just dumped 749 Bitcoin ( BTC ), worth approximately $88 million, on Wednesday, October ￰0￱ the moves, the fund’s total holdings sit at 805,540 BTC, valued at around $89.12 billion, according to the information shared by HeyApollo ETF tracker co-founder Thomas Fahrer on October ￰1￱ BTC inflows.) Overall, spot Bitcoin ETFs recorded 4,238 BTC in daily outflows, which translates to approximately $471 million, as per the same data. Nonetheless, the funds are still in the green this month, with as much as 40,004 BTC, or $4.48 billion, ￰2￱ falls amid macro uncertainty The transaction came just as the leading cryptocurrency started to lose steam following the Tuesday uptick, following the broader crypto market’s 1.5% ￰3￱ of the top 10 cryptocurrencies by market cap are currently in the ￰4￱ ( ETH ) and Solana ( SOL ), for instance, each dropped 2.5%, while XRP suffered a loss of 3.5%.

Renewed uncertainty regarding macro conditions was the primary factor behind the downturn. Namely, Fed Chair Jerome Powell stated that a December rate cut was not certain, reigniting concerns over ￰5￱ a result, roughly $812 million worth of leveraged crypto trades were liquidated, and the Crypto Fear & Greed Index once again dropped to “Fear” levels, 34 at the time of writing, when Bitcoin was trading at $110,050, down 2.68% on the daily ￰6￱ 24-hour price.) at $114,428 and a critical Fibonacci support near $112,231. At the same time, the Relative Strength Index ( RSI ) at 44.65 also points to weakening ￰7￱ image via Shutterstock