BlackRock Bitcoin Transfers from Coinbase Reflect Custody Operations, Not Selling Pressure

TLDR: BlackRock’s 300 BTC batch transfers are standard custody operations moving assets to cold storage. IBIT recorded $648 million in net inflows on January 16, explaining the large on-chain movements. Bitcoin trades at $95,360 with institutional demand creating support despite negative funding rates. Exchange outflows reflect buy-and-hold transfers rather than selling pressure from BlackRock’s ETF.  [...]

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