BlackRock has significantly rebalanced its cryptocurrency holdings, transferring over $560 million in Bitcoin to Coinbase Prime within just two days. Onchain Lens data reveals a total of 5,362 BTC moved since Monday, with most transactions coming in batches of 300 BTC. This action coincides with a major withdrawal from BlackRock’s iShares Bitcoin Trust (IBIT), which saw over $430 million depart on May 30th and another $130 million on June 2nd. 27,241 ETH worth $69 million was also withdrawn from Coinbase wallets and sent to addresses associated with BlackRock’s Ethereum ETF infrastructure. While the exact reasons remain unclear, this move suggests a strategic rebalancing following price fluctuations in the crypto market. With Bitcoin sliding from highs above $112,000 to approximately $105,000 this week, investors are adapting their strategies by locking in profits or adjusting to the price pullback. The magnitude of BlackRock’s transactions signifies that even routine movements have a significant impact on the market.