BlackRock moves $642M in BTC and ETH to Coinbase Prime
BlackRock has sparked concern with its steady offloading of Bitcoin and Ethereum after its latest deposit of 4,880 BTC and 54,730 ETH.
- Large transfers. BlackRock moved 4,880 BTC and 54,730 ETH to Coinbase Prime.
With the crypto market consistently trading in deep reds and sparking fear that the market has already entered its bear phase, BlackRock has ignited more doubts with its recent move.
On Monday, November 17, data from on-chain monitoring firm Lookonchain shows that the leading asset management firm made another major deposit of 4,880 BTC and 54,730 ETH into Coinbase Prime.
- Sell-off concerns. Market watchers view the transfers as a potential sell-off attempt.
Although the investment firm has not given any clarity about the motive behind such large moves, market watchers have speculated that it is an attempt to sell off its holdings. According to the data provided by the tracker, BlackRock has transferred Bitcoin and Ethereum worth a combined total of over $642 million into a wallet on Coinbase Prime, hinting at a potential sell-off attempt.
Notably, the move is garnering more attention from market participants, as it has been observed that the once-aggressive Bitcoin and Ethereum accumulator has not made any notable crypto purchases in a while. Rather, BlackRock has only continued to move both assets in large quantities recently.
XRP ETF launch met with surprise $15.5M outflow
XRP's long streak of institutional inflows snapped right after its spot ETF went live.
- XRP ETF underperforms. The first full week of XRP’s ETF era saw a $15.5 million outflow from XRP-linked investment products.
The first full week of XRP’s ETF era did not unfold the way the community expected because, instead of a continuation of the long inflow streak that began right after XRP was ruled not a security in 2023, the market delivered the exact opposite — a $15.5 million outflow from XRP-tied investment products, the largest single-week reversal since the asset reentered institutional rotation last year.
XRPC’s debut on Nov. 13 produced no net creations on day one, but the next session pulled in $243 million through cash and in-kind flows, and trading volume hit $58 million, the highest opening print of any ETF launched this year out of more than 900 products. It even edged past the spot Solana ETF launch, which landed at $57 million.
- Investor behavior. The setup indicates markets treated the ETF launch as a sell-the-news event.
Historically, inflows tended to follow these kinds of liquidity bursts. Across the last 12 months, XRP ETPs added roughly $2 billion in net allocations, while the price climbed from $0.50 to $3.50 — a 700% surge.
CoinShares data shows the first break in that pattern arriving immediately after the ETF went live, at the same moment the entire ETP market logged $2 billion in outflows driven by monetary-policy uncertainty and large crypto-native sellers. Bitcoin lost $1.38 billion, Ethereum shed $689 million and XRP’s $15.5 million outflow sits inside the same liquidation wave.
The structure implies that investors treated XRPC’s launch as a sell-the-news pivot rather than an entry point, and the assumption that inflows will arrive simply because the ETF now exists has no support in this environment.
Shiba Inu enters high-risk 'apathy phase'
Shiba Inu's volume is approaching extremely low levels, which could erode all the momentum on the market.
- Extremely low activity. SHIB is entering one of the most dangerous stages for any crypto asset.
Shiba Inu is about to enter one of the riskiest stages a cryptocurrency asset can go through: apathy rather than a crash. Although the price is not plummeting sharply, something much worse is going on below the surface: market participation is almost completely disappearing, volume is evaporating and liquidity is drying up.
- Price action. Recent bounce attempt failed to break the structure.
The price action shows an attempt at a bounce that was unsuccessful in breaking the structure, followed by a gradual decline that is currently centered on $0.0000090-$0.0000093.
The RSI is in the 39-41 range. It is not strong enough to indicate a buildup, nor is it oversold enough for a reversal. To put it another way, there are no catalysts, no momentum and no volatility.
- Potential volume collapse. Candles are shrinking toward historical low volume levels.
The more significant issue is that the volume is continuously dropping. Recent candles are getting smaller and fading toward historical lows. Every SHIB investor should be much more concerned about that than about a day with a red price.
Low volume indicates fewer purchasers, less vendors, no strain on liquidity, absence of speculative interest and a lack of volatility to spur growth.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team