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BlackRock withdraws over 10,000 BTC and ETH within 2 days, institutional accumulation signals continue to be released
【Blockchain Rhythm】On-chain data shows that on January 7th, a major asset management firm’s wallet address made a large withdrawal operation within the past 8 hours—withdrawing 3,948 BTC (approximately $367.93 million) and 1,737 ETH (approximately $5.65 million) from a well-known exchange.
What is even more noteworthy is the frequency of this activity. Looking back two days, the same address has cumulatively withdrawn 7,146 BTC (worth $668.38 million) and 6,851 ETH (worth $21.91 million) from the exchange.
Continuous large-scale withdrawals are often interpreted by the market as institutional-level asset rebalancing. Withdrawing digital assets from an exchange usually indicates that the holder plans to hold long-term or transfer to a self-custody wallet. Such actions are often seen by market participants as bullish signals. Especially the ongoing buying and withdrawal activities of mainstream cryptocurrencies like BTC and ETH reflect institutional continued interest in crypto asset allocation.