BlackRock Withdraws $292M in BTC and ETH from Coinbase
BlackRock pulls 3,899 BTC ($289.88M) and 839 ETH ($1.95M) from Coinbase, signaling ETF custody shifts amid Bitcoin price prediction volatility.
SourceBlackRock just yanked 3,899 BTC worth $289.88 million and 839 ETH valued at $1.95 million from Coinbase, per on-chain data from @OnchainLens. This move aligns with BlackRock's ongoing custody arrangements for its spot Bitcoin ETF, where Coinbase serves as the prime custodian for crypto assets. Over the past six months, similar withdrawals have often preceded ETF inflows, bolstering Bitcoin ETF outflows trends and hinting at institutional repositioning in the crypto market trends. With Bitcoin hovering in a bullish macro setup, this could fuel further BTC price prediction optimism, especially as viral trends like TAO and Bitcoin dominate headlines.
On the 4-hour chart, Bitcoin trades at $74,939, firmly above its EMA50 support at $72,987 and EMA200 at $70,625, confirming the bullish trend structure. Yet MACD screams bearish with a death cross at 661.78, while RSI at 59.47 stays neutral—price squeezes inside Bollinger Bands, testing upper resistance at $75,477 with lower support at $73,704. Confluence points to exhaustion here; expect a sharp pullback to EMA50 before bulls reload for a push toward $80K if volatility holds.
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