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Bitcoin Survives a $1.29 Billion Shock: A “Whale” Sold Everything in One Move! BTC Shows Resistance
The cryptocurrency market has successfully withstood one of the largest tests of institutional liquidity in recent times. A hidden sell-off worth $1.29 billion in BlackRock’s spot Bitcoin ETF (IBIT), issued by the world’s largest asset-management company, did not cause lasting damage to Bitcoin’s price. The market absorbed this massive selling pressure like a sponge, demonstrating a strong position.
Tom Dunleavy, a well-known analyst who appeared on the show of Scott Melker, a prominent figure in the cryptocurrency world, discussed this large-scale move by major investors and its impact on the market.
A large institutional investor, whose name has not been disclosed, suddenly sold around $1.29 billion worth of shares in BlackRock’s spot Bitcoin ETF. The sale was reportedly carried out on over-the-counter markets or in less visible but liquid exchange pools in order to avoid a direct impact on the market price.
This move, which coincided with a period of outflows from U.S. spot Bitcoin ETFs, initially triggered a brief wave of panic in the market, but Bitcoin’s price barely flinched and absorbed the shock.
Analyzing the events on the show, Tom Dunleavy emphasized that the fact that this billion-dollar sale did not shake Bitcoin demonstrates the institutional maturity its market has achieved. Dunleavy highlighted the following points:
The analyst recalled that in previous years, even sales worth several hundred million dollars could have caused Bitcoin to fall sharply by 10–20%. He stated that the fact that a $1.29 billion volume was so easily absorbed by spot markets represents a historic turning point.
According to the analyst, the depth provided by spot Bitcoin ETFs prevents large capital outflows from being able to crash the price. This ecosystem, created by BlackRock and other issuers, acts as a kind of safety belt for the market.
In the analyst’s view, such a large-scale sell-off by major investors, which failed to push the price lower, underscores the bullish sentiment in the market and the large volume of orders from institutional buyers.
Experts argue that, despite periodic outflows from U.S. spot Bitcoin ETFs, Bitcoin’s resilience to multibillion-dollar sales is a very strong signal of “confidence” for long-term investors.
