Reports indicate that BlackRock clients recently sold approximately $268.6 million worth of Bitcoin through the company’s IBIT spot Bitcoin ETF. This move stems from client redemptions rather than direct sales by the firm itself. While the incident triggered a 10% drop in Bitcoin’s price, market dynamics contributed to a subsequent rebound. 80,000,000 USD worth of Bitcoin was reportedly sold off by Blackrock clients as a result of this trend. The impact has been significant, pushing the price down from $124,000 to $112,000 before recovering to $115,900. This follows in line with similar historical trends, where institutional outflows have led to market volatility, but often recover.