World’s largest asset manager BlackRock has moved 2,156 BTC, worth $186 million, into Coinbase Prime, a shift that immediately caught the attention of traders already nervous about the market’s fragile state. With Bitcoin struggling to hold key levels, the timing of such a large institutional transfer has stirred fresh speculation that a significant sell-off could be brewing.

BlackRock Sends 2,156 BTC to Coinbase Prime

According to a recent report by on-chain tracker Lookonchain, BlackRock has moved over 2,156 BTC worth $186 million into Coinbase Prime in another fresh deposit. The on-chain tracker revealed this information in an X post on December 1, 2025, highlighting that the deposit was made in a series of transactions. 

Meanwhile, the transaction coincided with Bitcoin’s dip below the psychological $90,000 region, sparking anxiety among investors who believe BlackRock’s recent move could be to dump BTC. Interestingly, BlackRock is not the only institution thought to be offloading its BTC holdings, as on-chain sleuth DefiWimar, in an X post, reveals six institutions that have dumped a significant portion of their BTC holdings. Among the institutions are Wintermute, which leads the pack with 9,315 BTC sell-off. It was followed by Coinbase, which sold off 8,375 BTC. 

Why Traders Think a Dump May Be Coming

Institutional transfers of this size rarely happen without intent. Furthermore, Coinbase Prime is not a simple cold storage solution; it is designed for block trades, deep liquidity access, and institutional execution. Historically, when prominent asset managers transfer large amounts of BTC to exchange-linked platforms, it often precedes selling or portfolio rebalancing.

This transfer also follows a streak of large Bitcoin movements linked to BlackRock and ongoing ETF outflows. That combination has strengthened the belief that BlackRock could be preparing to trim exposure. In a market that’s already jittery, a $186 million potential sell event is more than enough to tilt sentiment. 

The development comes after reports revealed that Bitcoin ETFs just recorded their second-worst performance of the year, with more than $3.5 billion in outflows. Notably, BlackRock accounted for roughly $2.2 billion of these redemptions.

Meanwhile, CoinRemark previously tracked several BlackRock-related large transfers to Coinbase Prime, including a 4,880 BTC deposit in mid-November and another 2,822 BTC transfer on November 24.

What This Could Mean for Bitcoin’s Next Move

Bitcoin’s price action has been shaky, and liquidity feels thinner than usual as investors move towards less risky assets. However, market expert Michael van de Poppe believes that BTC is just going through a normal market phase, hitting a resistance level, and is currently in an accumulation and consolidation phase. Michael revealed his optimistic opinion in an X post and speculated that the price of BTC could move to $100,000 in the coming weeks.