Cathie Wood’s Ark And BlackRock Dump Bitcoin as Veteran Trader Predicts BTC Price Crash

BlackRock and Cathie Wood’s Ark Invest have reportedly sold off some of their BTC holdings. This follows a veteran trader’s prediction that the Bitcoin price would drop below $100,000.

BlackRock, Cathie Wood’s Ark Dumps BTC Amid Market Downturn

BlackRock recently sold 490 BTC worth $68.7 million, alongside $87.2 million in Ethereum sales.  Despite the selloff, BlackRock still holds 749,500 BTC, underscoring its long-term positioning in the market. 

Notably, the sale happened at the same time that BlackRock’s spot Bitcoin ETF (IBIT) reached a new record. It now has more than $91 billion in assets under management. This indicates that there is still a high demand from investors for regulated exposure to Bitcoin.

As reported by Whale Insider Cathie Wood’s Ark Invest also booked profits, selling 559 BTC worth approximately $64.4 million through its Ark 21Shares Bitcoin ETF. This follows a broader trend of red ETF flows in August. It raises questions about whether recent selling is just routine profit-taking or an early warning of bearish momentum.

However, recent actions suggest she is bullish on Bitcoin’s future. In an interview earlier this year, Cathie Wood made a bold prediction that the Bitcoin price could soar to at least $1.5 million within the coming years. 

According to Wood, Bitcoin’s increasing adoption by corporations and institutional investors will act as a key growth driver. This would gradually stabilize its volatility and position it as a long-term investment vehicle.

Veteran Trader Warns of a Bitcoin Price Crash

A Veteran Trader, Dr. Profit, stated he was “more than confident” that the Bitcoin price would dip below $100,000 in September. He shared that this would happen before the coin stages a recovery to new all-time highs in subsequent months. 

Another analyst, Bull Theory, also echoed this prediction, projecting a price dip towards a support zone of around $98,000, with potential upside toward $160,000–$200,000 over the next six months if bulls can defend critical levels.

Despite the selloff,  others see opportunity in the current correction. Strategy expanded its holdings, acquiring 430 BTC for $51.4 million. Additionally, Japan’s Metaplanet purchased 775 BTC to bring its total stash to 18,888 BTC. Because of its aggressive accumulation strategy, the company has a BTC rating of 18.67x, which increases its volatility resistance.

These actions imply that while companies like Strategy and Metaplanet are profiting from the decline in the price of Bitcoin, BlackRock and Cathie Wood’s Ark Invest may be locking in profits. The short-term trajectory of Bitcoin currently depends on whether exchanges regain liquidity and whether bulls are able to hold the $109,000–$112,000 range.