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BlackRock, the world's largest asset manager, has transferred 3,126 Bitcoin worth approximately $203 million from its IBIT Bitcoin ETF wallet to Coinbase Prime, according to on-chain data from Onchain Lens. The transfer was executed through multiple transactions, including several batches of 300 BTC and one of 126.168 BTC. Such large movements to a trading platform often raise speculation about potential selling or portfolio rebalancing. The move comes amid ongoing market sensitivity to ETF flows, which have been a key driver of Bitcoin price action. While the intent behind the transfer is not confirmed, it could signal a shift in institutional positioning, potentially adding short-term selling pressure. Traders should monitor for further on-chain activity and any official statements from BlackRock.
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