BlackRock's crypto fund has withdrawn nearly $474 million in Bitcoin in a single session, marking the largest dollar withdrawal since the firm entered the market. This significant outflow has added pressure to the already struggling crypto market, characterized by fear and heavy sell-offs. Data from SoSoValue indicates that Fidelity’s FBTC lost over $2 million, while Grayscale’s GBTC saw a reduction of $25.09 million. Other major issuers reported no inflows, suggesting a broader institutional retreat. Analysts attribute the sell-off to urgent cash needs amid a liquidity crunch. Despite the downturn, Robert Kiyosaki remains optimistic about Bitcoin, labeling it 'real money' and expressing plans to buy more. Meanwhile, JPMorgan analysts forecast Bitcoin could reach $170,000 within 6 to 12 months.
BlackRock Withdraws $474M from Bitcoin, Intensifying Market Pressure
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