BlackRock has absorbed 9,615 BTC valued at approximately $635 million within a three-day window, coinciding with the sale of 23,300 BTC on exchanges at a loss. This activity reflects a market dynamic where the SOPR, currently at 0.9, indicates profit-taking by recent high-cost buyers, while long-term holders, who acquired their Bitcoin for under $50,000, are maintaining their positions. Such behavior highlights the contrast between weak hands, which provide liquidity through sales, and strong hands, who are not selling their low-cost assets despite the current market conditions.
BlackRock absorbs 9,615 BTC valued at $635M over 3 days
