- BlackRock buys $635M Bitcoin despite renewed price weakness
- Bitcoin drops 3.38% as institutional inflows accelerate sharply
- 9,615 BTC added in three days amid volatility
BlackRock has accumulated $635M worth of Bitcoin within three days, even as the asset’s price moved back into negative territory. On-chain data shows the asset manager resumed steady buying after several days of selling pressure. The shift has drawn attention from traders tracking institutional flows.
According to data shared by Lookonchain, BlackRock received 4,082 BTC from Coinbase Prime in its latest transaction. That transfer carried an estimated value of about $269M. Moreover, it marked the third consecutive day of Bitcoin inflows into the firm’s ETF wallet.
Over the full three-day period, BlackRock accumulated a total of 9,615 BTC. At current prices, those holdings amount to approximately $635M. Consequently, the firm’s renewed accumulation stands out against the backdrop of weakening market prices.
Also Read: Bitcoin Slides Under $64K as 23,300 BTC Moved to Exchanges at a Loss
Buying Continues While Bitcoin Slides
Bitcoin has declined 3.38% over the past 24 hours, trading near $64,045 after recently rebounding to $69,953 just days earlier. Despite the renewed price weakness, BlackRock’s ETF wallet activity shows consistent inflows. Besides, Coinbase Prime typically facilitates large over-the-counter transactions for institutional clients. Therefore, the transfers suggest strategic allocation rather than short-term trading.
Significantly, the steady accumulation occurred while broader sentiment turned cautious. Market participants often view institutional inflows as indicators of longer-term positioning. Additionally, sustained buying during price declines can influence expectations about underlying demand.
BlackRock operates one of the largest spot Bitcoin exchange-traded funds in the United States. Consequently, its wallet movements receive close scrutiny from analysts and traders. The recent inflows have intensified focus on institutional behavior during volatile periods.
Conclusion
BlackRock’s $635M Bitcoin buying streak has unfolded as prices moved lower again. While Bitcoin trades in red territory, the firm’s three-day accumulation highlights continued institutional exposure despite short-term market swings.
Also Read: XRP Liquidation Imbalance Deepens as $12.56M Longs Wiped in 24 Hours
