BlackRock Dumps 1,000 Bitcoin as Investors Scramble To Save The $60K BTC Price Floor
Bitcoin (BTC-USD) is having a rough time holding its ground as institutional investors continue to sell off their holdings. On Thursday, BlackRock (BLK) moved to sell over 1,000 Bitcoin from its iShares Bitcoin Trust (IBIT). When combined with sales from other funds like WisdomTree’s HODL, the total net exit from spot Bitcoin ETFs reached about 1,410 BTC for the day. This timing is especially difficult because the market is heading into the weekend, a period when lower trading volume often makes price swings more intense.
Claim 55% Off TipRanks
- Unlock powerful investing tools and data-driven insights with TipRanks Premium for more confident investment decisions.
- Discover top stock picks and new investment opportunities through TipRanks' Smart Investor Newsletter.
Why the Selling Pressure Is Growing
The market is feeling the weight of several negative trends. Bitcoin has been hovering near the $60,000 support level for most of the past day but has failed to show any signs of a strong recovery. Trading analyst That Martini Guy, who closely monitors these flows, warns that this lack of a bounce is a bad sign. He believes that because spot buying demand remains weak, lower prices are a real possibility in the near term.
This is not a new problem. Throughout June, Bitcoin ETFs have faced a steady stream of withdrawals. BlackRock’s fund alone has seen more than $2.7 billion in outflows over the last five weeks. This is the longest period of continuous selling since these funds launched in early 2024.
Two Major Forces Are Driving the Exit
Two big economic factors are keeping sellers in control of the market:
- Fed Policy Shifts: The U.S. Federal Reserve’s recent meeting sent a “hawkish” signal, meaning they are worried about inflation and are in no rush to lower interest rates. Because high rates make “safe” assets like bonds more attractive, investors are pulling money out of riskier assets like Bitcoin.
- Global Conflict and Oil: Ongoing tensions related to the conflict involving Iran have kept oil prices high. This adds to inflation worries, which in turn gives the Federal Reserve more reason to keep interest rates high. While a recent peace deal regarding the Strait of Hormuz has helped oil prices settle a bit, the overall economic climate remains tense.
What Happens Next?
The Bitcoin price now rests near a critical $60,000 level. The Fear and Greed Index, which tracks market sentiment, has spent time in “Extreme Fear” territory recently. Looking ahead, traders are watching three possible outcomes:
- The Bull Case: If the Federal Reserve signals that rate cuts are coming, or if global conflicts ease further, investors might start buying again, potentially pushing Bitcoin back toward $70,000.
- The Base Case: If these economic pressures continue, Bitcoin could stay stuck in a slow, sideways grind between $60,000 and $68,000 through the summer.
- The Bear Case: If the $60,000 support fails to hold, especially during the low-volume weekend, Bitcoin could drop toward $55,000.
At the time of writing, Bitcoin’s price is siting at $62,450.
Copyright © 2026, TipRanks. All rights reserved.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The AI boom may follow the path of the 19th-century railway bubble, and builders may not be the ultimate winners
Goldman Sachs analyst Bobby Molavi compared the current situation to the 19th-century British railway mania: 500 companies spent more than the nation's annual income building 8,000 miles of railway, with most early investors losing out, while the real beneficiaries were the later "passengers." He pointed out that the current AI craze is driven by both debt and momentum, and that the S&P 500’s forward P/E ratio of 18x is only "a bit cheaper." Whether the builders can retain value is uncertain, and history does not offer an optimistic answer.
If Anthropic's IPO goes smoothly and the stock price rises next week, then everything remains the same for AI. Otherwise, some companies will go bankrupt.
The shrinking valuations of two major giants have triggered a chain reaction—investors are adopting more conservative revenue multiples for AI startups and are directly halting high-valuation financing for companies with zero revenue. Multiple venture capital firms have advised their portfolio companies to lower valuation expectations and to quickly build up cash reserves. Market participants warn that the outcome of Anthropic’s IPO will be a barometer for the industry: if successful, the boom will continue; if it fails, some companies may face elimination.
After the Brazilian election, political discount deepens; Morgan Stanley remains bullish on Petrobras (PBR.US), focusing on fuel pricing and dividends
Morgan Stanley still maintains its most optimistic "Overweight" rating, but has lowered its year-end 2027 target price from $31 to $25.
Corning (GLW.US) receives initial "Buy" rating from Jefferies! AI factories driving a fiber optic rush, with a potential global supply gap of up to 30%
For Corning, the recent profit growth mainly comes from the expansion of AI clusters. As the number of optical links crossing cabinets and campuses increases, customers need to deploy more optical fibers within limited conduit and cabinet space, thus driving demand for high-density optical cables and connection systems.
Crypto prices
More
