On April 25, according to Lookonchain, Grayscale reduced its holdings by 1,019 BTC (-64.67 million USD) and currently holds 302,664 BTC (19.2 billion USD). Blackrock did not add any BTC and still holds 274,462 BTC (17.4 billion USD). 9 ETFs (including Grayscale) reduced their holdings by 1,104 BTC (-70.1 million USD).

Is this the reason for the drop today? What do you think?