BlackRock Sells $105 Million of Bitcoin as Recovery Stalls Again

BlackRock, one of the world's leading asset management firms, has extended its prolonged Bitcoin selling spree, having continued to dump the asset since late October. While BlackRock has yet to record any new Bitcoin purchase this month, the latest market data shows that it has sold Bitcoin again following the severe price downturn seen in the last day. Latest data showcased on SosoValue shows that BlackRock's Bitcoin ETF has recorded another net outflow for the fourth time this week, as it continues to post negative daily trading sessions throughout the week. Amid consistent withdrawals from investors, BlackRock has sold $104.97 million worth of Bitcoin after IBIT recorded another massive outflow on November 5th.

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