Strange things continue to happen on the cryptocurrency market, and with each new twist in this roller coaster ride, it seems that nothing else of this magnitude can happen to surprise market participants. But here we are.
As reported by Lookonchain, BlackRock, a $10 trillion financial mastodon and issuer of one of the most successful ETFs in history, the Bitcoin-focused IBIT to be exact, has just dumped an astounding 3,296 BTC, which is equivalent to about $254 million, on Coinbase, the leading cryptocurrency exchange in the U.S.
Is it worth saying that such a move was perceived by market participants as a very bearish and worrying sign?
There is logic behind this fear, even though the two rarely go together. The thing is…
