According to latest reports from AMBCrypto, BlackRock clients reportedly sold $177.95 million worth of Bitcoin, adding fresh uncertainty to the market's institutional outlook. The reported sale arrived as Bitcoin continued trading near a critical support region rather than near cycle highs, raising questions about whether large investors had started reducing risk after months of volatile price action. On Tuesday, May 26, someone sold 29 million shares of BlackRock's iShares Bitcoin Trust in a single transaction worth approximately $1.29 billion, marking the largest block trade in IBIT's fifteen-month history. The size of the sale remained significant enough to attract attention across the market, with investor sentiment appearing cautious afterward as Bitcoin struggled to reclaim higher resistance levels.
While institutional selling concerns increased, exchange flow data painted a different picture. Bitcoin recorded net outflows of $17.31 million during the latest session, indicating that more coins left exchanges than entered them. Historically, sustained outflows have reflected investors moving assets into private wallets rather than preparing them for immediate sale. This trend remained visible throughout much of the chart, where negative netflow readings repeatedly dominated exchange activity. Such behavior suggests that a segment of market participants still preferred accumulation despite recent uncertainty, with the exchange data not fully supporting an aggressive distribution narrative.
At the time of writing, Bitcoin traded near $73,397 while testing the lower boundary of its ascending channel around the $73.8K support region. The structure has been guiding prices higher since February, making this area increasingly important for the broader trend. Recent candles showed sellers gradually pushing Bitcoin lower after the rejection near $82,378 resistance. Technical indicators reflected weakening conditions, with the MACD line standing at -929.99 while the signal line remained at -623.21, keeping the indicator firmly bearish. The histogram stayed below zero and continued printing red bars, though the market had not confirmed a breakdown yet. If buyers fail to defend current levels, Bitcoin could revisit the $65,657 support zone, while a successful defense would keep the ascending channel intact.
Despite recent price weakness and institutional selling headlines, Bitcoin's NVT Golden Cross dropped 905.57% to -0.1688, marking a significant decline from previous readings. A falling NVT Golden Cross generally suggests that network activity has improved relative to market valuation rather than signaling excessive speculation. Unlike overheated market phases, the current reading remained deeply below levels often associated with euphoric conditions. This development suggested Bitcoin had not entered a valuation zone that historically preceded major tops, with the on-chain data continuing to indicate that the network remained relatively healthy despite conflicting signals across multiple fronts.
