Traders divided on $1.3B BlackRock IBIT sell-off

Opinions are sharply divided among traders regarding a recent large-scale sell-off of approximately $1.3 billion from BlackRock's spot BTC ETF (IBIT), BlockBeats reported. Many traders view the transaction as a major sell-off by institutional investors, suggesting that smart money is quietly exiting the market. They point to the Coinbase BTC premium remaining negative for 21 consecutive days and sustained ETF outflows as evidence. However, other traders offered a more optimistic take, arguing that the market absorbed the sale effectively. They noted that despite the significant selling pressure, IBIT only recorded an outflow of about $192 million on that day, which is far from a market crash. This group believes that Bitcoin maintaining a level above $75,000 indicates a substantial increase in institutional-grade liquidity, suggesting the funds are rotating rather than exiting.