$1.3B IBIT Block Trade Coincides With Bitcoin Volatility as Traders Watch ETF Flows

• $1.3 billion BlackRock’s IBIT block trade aligned with sharp Bitcoin market swings.
• Bitcoin dropped below $76K amid volatility following a large IBIT block trade.
• Eric Balchunas noted that IBIT’s price remained stable despite the massive block trade.

Bitcoin trading activity turned volatile during the U.S. session as traders reacted to a reported $1.3 billion block transaction tied to BlackRock’s IBIT ETF 

Senior ETF analyst Eric Balchunas confirmed that about 29 million shares of IBIT traded at approximately 10:30 a.m., totaling about $1.3 billion. According to Balchunas, the market absorbed the trade without major disruption to IBIT’s share price during the session.

However, separate market commentary circulating across crypto trading platforms linked the transaction to increased volatility in Bitcoin spot markets. Data referenced by Bitco…

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