Analysis questions claims Fidelity sold $197M in BTC amid price drop

Claims that global asset manager Fidelity sold $197 million worth of BTC, which some crypto community members blamed for yesterday’s sharp Bitcoin drop, lack supporting evidence and appear to stem from a misreading of on-chain transfers tied to internal asset movements, Crypto Briefing reported. As BTC fell into the $80,000 range yesterday, some in the community pointed to an alleged $197 million Fidelity sale as the cause of the decline, according to the outlet. Crypto Briefing said currently verifiable data does not show an actual sale took place, and added the claim appears to have misinterpreted fund transfers between custody wallets for Fidelity’s institutional clients and related settlement flows linked to its spot BTC ETF business.