BlackRock Sweeps $878M in BTC as Long-Term Selling Hits 2017 Low
BlackRock accumulated 9,619 BTC in 72 hours while long-term holder selling dropped to 8-year lows, signaling a potential supply squeeze.
Price is Lying
Ignore the red candles. While Bitcoin struggles to hold $90,200 (-2.4%), a massive divergence has formed between spot price and on-chain reality. BlackRock has aggressively accumulated 9,619 BTC (approx. $878 million) over the last 72 hours, effectively acting as a backstop for the market.
Data from on-chain analyst Lookonchain confirms the purchasing spree, which brings the asset manager’s total Bitcoin holdings to nearly 780,400 BTC. A hoard valued at $70 billion. This is not passive allocation. It is a high-conviction liquidity sweep during a volatility dip.
The Supply Shock Signal
The institutional buy-side is only half the story. The sell-side has vanished. According to data monitored by CryptoQuant, the Exchange Inflow Coin Days Destroyed (CDD) metric on Binance has collapsed to levels not seen since 2017.
This metric tracks the movement of “old” coins. A high CDD indicates long-term holders are dumping. A low CDD signals they are dormant. Despite Bitcoin trading near $90k, historically high, veteran hodlers are refusing to liquidate. They are locking in.
The dual signal is rare: Record institutional inflows meeting record low veteran outflows.
Institutional Context
This behavior marks a clear transfer of ownership. The “weak 2025” retail overhang is exiting, selling into the hands of an ETF giant that now controls over 3.7% of the total Bitcoin supply. With the Coin Days Destroyed metric flatlining, the available float for BlackRock to acquire is thinning. If this dynamic persists, the supply squeeze will force price discovery upward regardless of derivative market noise.
