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BlackRock's $BTC ETF just dumped $54.8M worth of Bitcoin. This is worth watching because BlackRock (IBIT) has been one of the most consistent net buyers since launch. When the biggest institutional player suddenly flips to selling, it's either: 1. Rebalancing / profit-taking after the recent rally 2. Responding to client redemptions 3. A tactical shift in positioning ahead of macro uncertainty Context matters here. If this is a one-off, it's noise. If it becomes a pattern over the next few days, it could signal a short-term top or at least a cooling-off period for institutional appetite. Keep an eye on the next few trading sessions. ETF flows are one of the cleanest real-time demand signals we have for $BTC right now.