According to DL News, BlackRock's investors are selling their Bitcoin. On Tuesday, clients of the asset management giant's flagship fund iShares Bitcoin Trust withdrew $523 million.
BlackRock is not alone: Data from DefiLlama shows that U.S. spot Bitcoin exchange-traded funds (ETFs) have evaporated $3 billion so far in November, approaching the $3.5 billion crash scale seen in February.
The recent large-scale dumping comes as the Bitcoin price hovers around $90,000 after a total sell-off of $1.2 trillion in all cryptocurrencies over the past month.
“This kind of volatility usually indicates that the downtrend may continue,” said Georgii Verbitskii, founder of the cryptocurrency investment app TYMIO. “It is very likely that we are entering a long bear market, either continuing to decline or trading in a long-term range around $100,000 or lower.”
Nicholas Roberts-Huntley, CEO and co-founder of Blueprint Finance, stated that the factors driving the decline in cryptocurrency prices are not limited to the cryptocurrency itself: “Tightening liquidity, rising interest rates, and slowing economic growth are all having adverse effects on the economy and triggering market concerns.”
This dumping reflects the widespread deterioration of global risk sentiment, and the stock market has also experienced fluctuations. Investors are closely watching Nvidia's financial report released on Wednesday, the delayed US employment data, and the divisions within the Federal Reserve— the Federal Reserve is still uncertain whether it should cut interest rates this year.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
On-chain address cleaned out BTC and ETH positions, taking $1.75M profit before opening $39.4M long position
On March 20th, address 0x94d closed out 105 million dollars in BTC and ETH short positions, realizing profits of approximately 1.75 million dollars, then reversed to open long positions. The current long position size has reached 39.4 million dollars with unrealized losses of approximately 10,000 dollars. This address is known for reverse operations and excels at swing trading.
GateNews7m ago
Iran Strikes Qatar LNG Causing $20 Billion Annual Loss, Bitcoin Drops Below $70K
Iran's Islamic Revolutionary Guard Corps (IRGC) launched missile strikes on Qatar's Ras Laffan Industrial City on March 18-19, 2026, severely damaging two LNG production trains representing 12.8 million tons per annum (MTPA) of capacity—approximately 17% of Qatar's LNG exports—and forcing QatarEnergy to declare force majeure on long-term contracts for up to five years.
CryptopulseElite1h ago
CNBC's Jim Cramer Calls Market "Extremely Oversold," Appears to Reference Bitcoin
Gate News reported that on March 20, Jim Cramer, host of Mad Money under CNBC, an American financial media outlet, commented that the market is in a "very oversold" state, which may involve Bitcoin (BTC). Specific details of the comment have not been disclosed yet.
GateNews1h ago
Crypto Market Declines for Three Consecutive Days, BTC Narrows Losses and Rebounds Above $70,000, GameFi Sector Rises Against the Trend
The crypto market has declined for three consecutive days, with the SocialFi sector down 4.65%, while Bitcoin and Ethereum fell 0.88% and 1.94% respectively. GameFi showed strength, with Axie Infinity up 3.84%. Other sectors generally declined, with some tokens such as eCash and PIPPIN posting modest gains. Overall sector indices show varying degrees of decline.
GateNews1h ago
Analysts Recommend Holding "Dry Powder" During Price Volatility, BTC Oscillates Near $70,000
Gate News reported that on March 20, a certain analyst advised investors to hold "dry powder" (referring to cash reserves or funds awaiting investment) during periods of price volatility. On Thursday, Bitcoin price fluctuated around $70,377.59 and moved in the direction of $69,000.
GateNews1h ago
A certain crypto whale liquidates a long BTC position in a perpetual loan, incurring a loss of 14.02 million USD
On March 20, on-chain data showed that a whale suffered a loss of $14.02 million from going long on BTC and liquidated 742.8 WBTC at a cost of approximately $89,137, now selling at $70,266 to repay Aave borrowings.
GateNews1h ago
