BlackRock IBIT's $1.3 billion dark pool transaction sparks market divergence

BlackRock IBIT completed a dark pool block transaction of approximately 292 million shares and $1.3 billion this morning, sparking discussions among cryptocurrency traders. The price of Bitcoin fell by over 2% at one point. Bears believe that this is a large-scale distribution by institutions, with single candle trading volume exceeding IBIT daily average, Coinbase premium being negative for 21 consecutive days, ETF outflows, indicating that 'smart money is leaving'. German trader CryptoWallSt pointed out that dark pool trading may trigger a leveraged market clearing chain due to market maker hedging. Some traders believe that the market is absorbing well, Bitcoin is holding above 75000, institutional funds are rotating rather than leaving, and they have noticed that some institutions have bought $45 IBIT call options for December 2026 (with an inflow of about $1 million). IBIT had an outflow of approximately $192 million on the same day, with no signs of a collapse.