$603 Million in Bitcoin and Ethereum, Biggest BlackRock Sale Underway

The world’s largest asset manager, BlackRock, has triggered volatility concerns in the cryptocurrency space. Notably, BlackRock made two key deposits to Coinbase Prime, comprising Bitcoin (BTC) and Ethereum (ETH) worth $603 million. This move has sparked speculations of massive sales amid early signs of market recovery.

Bitcoin and Ethereum prices react as volatility concerns grow

As highlighted by crypto analyst Jacob King, BlackRock deposited 3,970 BTC worth $356.7 million and 82,813 ETH valued at $247.1 million on the exchange. King noted that the transactions, as tracked by Arkham Intelligence mark one of the largest single-day crypto outflows in 2026.

Exactly 10 days ago, BlackRock had offloaded $361 million in Bitcoin and Ethereum sales. The sales were also carried out via Coinbase Prime.

The current move signals that BlackRock is looking to offload these assets onto the market. Given that the market is just recovering following geopolitical concerns, some consider it could trigger volatility on the broader crypto market.

Generally, pushing these assets into the market could increase circulating supply and dilute price action. Bitcoin, for instance, had climbed from a low of $87,231.57 to an intraday peak of $90,430.41. However, as of press time, Bitcoin has shed 0.45% and is exchanging hands at $89,419.00 in the last 24 hours.

The asset’s trading volume has also dropped by 13.89% to $47.2 billion within the same time frame. Interestingly, before this, Bitcoin’s Relative Strength Index (RSI) stood at 43.22, suggesting a near-neutral position.

BlackRock’s sales might shift this metric and trigger bearish sentiment in both Bitcoin and Ethereum. A bearish outlook on the two leading assets is likely to affect the broader crypto market.

Similarly, Ethereum has shattered the bullish anticipation of investors as it dropped from a daily high of $3,064.39. The coin breached the $3,000 support and now changes hands at $2,958.45, marking a 0.56% decline. Ethereum’s trading volume has also slipped by 2.31% to $31.19 billion.

Long-term Bitcoin and Ethereum outlook remains mixed

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Despite the underwhelming performance of Bitcoin since October 2025 in trading below $100,000, some stakeholders remain positive about its outlook. SkyBridge Capital founder Anthony Scaramucci says he expects the leading digital coin to soar to $150,000.

Although Scaramucci had previously predicted Bitcoin could hit $170,000 by late 2025, BTC has failed to break out as anticipated. He attributed the delays to the slowdown in legislative effort.

With Ethereum, traders have steadily continued to accumulate ETH despite its volatility. This suggests that investors are hopeful of a bullish breakout soon. How BlackRock’s periodic dump affects this rebound remains something to watch out for.