BlackRock moves $671M of BTC and ETH to Coinbase amid large IBIT outflows and bearish price action; Binance begins $1B Bitcoin buying plan
first published 2026-02-02T15:54:00Z
On-chain tracker Lookonchain reported BlackRock deposited 6,918 BTC (~$538.6M) and 59,327 ETH (~$133.6M), totaling about $671M, to Coinbase. The transfers coincided with bearish price action (BTC ~ $78,304; ETH ~ $2,373) and follow a $528.30M outflow from BlackRock’s IBIT ETF on Jan. 30 — its largest 2026 outflow to date.
AI Analysis
BlackRock moved large, specific amounts (6,918 BTC and 59,327 ETH, ~$671M) to Coinbase per Lookonchain; those transfers coincided with bearish BTC/ETH prices and came after a $528.30M IBIT outflow on Jan. 30 — facts consistent with selling pressure.
Expected Investor Sentiment: Bearish
Potential Market Impact: High
Source Articles
- $671 Million: BlackRock Dumps Bitcoin and Ethereum Again, But Bigger This Time - U.Today
- Bitcoin, Ethereum ETF Investments Flip Negative for 2026 as Crypto Funds Shed $1.7B - Decrypt
- ETF Recap: Crypto ETFs End January in Deep Retreat With $1.8 Billion Exit - Bitcoin.com
- First Batch Complete: Binance Starts Executing a $1B Bitcoin Buying Plan - Bitcoin.com
