Bitcoin News Today: "BlackRock's $642M Crypto Shifts Signal Bear Market Fears or Temporary Downturn?"

BlackRock's recent movements of over 4,880 Bitcoin (BTC) and 54,730 Ethereum (ETH)-valued at approximately $642 million-have intensified concerns about a potential crypto sell-off, with market analysts interpreting the transfers as a strategic offloading of assets amid a broader bearish trend. The deposits into Coinbase Prime on November 17 and 18, 2025, follow a series of large-scale sales by the asset manager, including a $198 million ETH liquidation earlier in the month. These actions have exacerbated fears of a deepening market downturn, particularly as Bitcoin and Ethereum trade near multi-month lows, with BTC slipping below $93,000 and ETH hovering around $2,700.

The sell-off anxieties are compounded by record outflows from BlackRock's flagship crypto products. Its iShares Bitcoin Trust (IBIT) reported a historic one-day net withdrawal of $523.2 million on November 19, marking the largest single-day outflow since the ETF's January 2024 launch. Over the same period, U.S. Bitcoin ETFs collectively lost $903 million, while Ethereum ETFs bled $262 million, extending an eight-day outflow streak. These figures highlight a broader shift in institutional sentiment, with analysts attributing the exodus to year-end profit-taking and risk-averse positioning. "Institutional investors are leading the charge, with ETF outflows signaling profit-taking and risk-off positioning," noted Rachael Lucas, a crypto analyst at BTC Markets.

The market's fragility is further underscored by on-chain activity. BlackRock's Ethereum deposits have drawn particular scrutiny, as the firm's wallet activity suggests a lack of recent accumulation, contrasting with its historically aggressive buying spree. On November 18, BlackRock added 64,707 ETH to Coinbase Prime, raising fears of a coordinated sell-off. Meanwhile, Ethereum's price remains above critical support levels but faces short-term volatility, with technical indicators pointing to potential further declines. The OCC's recent regulatory clarification permitting banks to hold ETH for gas fees has not alleviated concerns, as the market grapples with broader macroeconomic pressures, including uncertainty around the Federal Reserve's December monetary policy.

Market participants are split on whether these developments signal a full-blown bear market or a temporary correction. Illia Otychenko of CEX.IO noted early signs of stabilization in Bitcoin, citing waning selling pressure and bullish divergences in momentum indicators. However, Georgii Verbitkii of TYMIO argued that Bitcoin's structural weakness-trading at a 32% probability of hitting $95,000 before $115,000-suggests a prolonged decline. Retail investors have also capitulated, with small wallets offloading 0.36% of BTC holdings and 1.38% of XRP in recent weeks, a trend historically linked to market bottoms.

The ETF outflows and institutional exits have triggered a cascading effect across altcoins. While XRP ETFs saw a $15.5 million outflow in their first week, Solana and XRP ETFs recorded modest inflows of $23.66 million and $118.15 million, respectively. Altcoin strength remains fragmented, with Starknet and Zcash surging 31% and 11% in 24 hours, but Bitcoin's dominance continues to erode. Analysts caution that without a broader macroeconomic catalyst, any recovery will likely be limited to niche segments.