BlackRock crypto holdings have dropped 4.77 billion dollars so far in November, and that is the biggest wallet in the market shrinking. 📰
Arkham Intelligence data, reported by KuCoin, shows BlackRock crypto portfolio fell from 71.17 billion dollars at the start of November to 66.39 billion dollars, with the iShares Bitcoin Trust down 3.89 billion dollars, about 6.09 percent, holding 796,705 BTC against 815,657 BTC at the start of the month. 📊 The iShares Ethereum Trust lost 199,957 ETH in the same period, down to 3.02 million ETH, while Bitcoin is down 5.21 percent and Ethereum down 10.36 percent over the past 7 days. My reading is that this is the same story as the ETF outflows told from the other side, because when the largest holder in crypto sheds almost 5 billion dollars in eleven days, every bounce meets sellers, and traders should not fight that flow with big size until the holdings stop shrinking.
Does BlackRock selling slow down this week, or is November a full month of distribution? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BlackRock
Arkham Intelligence data, reported by KuCoin, shows BlackRock crypto portfolio fell from 71.17 billion dollars at the start of November to 66.39 billion dollars, with the iShares Bitcoin Trust down 3.89 billion dollars, about 6.09 percent, holding 796,705 BTC against 815,657 BTC at the start of the month. 📊 The iShares Ethereum Trust lost 199,957 ETH in the same period, down to 3.02 million ETH, while Bitcoin is down 5.21 percent and Ethereum down 10.36 percent over the past 7 days. My reading is that this is the same story as the ETF outflows told from the other side, because when the largest holder in crypto sheds almost 5 billion dollars in eleven days, every bounce meets sellers, and traders should not fight that flow with big size until the holdings stop shrinking.
Does BlackRock selling slow down this week, or is November a full month of distribution? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BlackRock
