A massive $1.26 billion sale of BlackRock’s IBIT was likely a rapid exit by a large investor
Crypto
A single large investor likely dumped $1.26B of BlackRock's IBIT in a rapid exit, with NYDIG debunking the basis-trade explanation due to a large NAV discount and absent CME futures volume spike. This prints as genuine forced or discretionary liquidation — a bearish signal for near-term BTC ETF demand at a time when whale accumulation is already at 2022 lows.
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↓ SHORT-6% target+3% stop2-3 weeks
Short IBIT into continued large-holder liquidation risk — whale exodus + worst ETF outflow month of year sets up further discount pressure.