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BlackRock Resumes Ethereum Acquisition After Single Sell-Off
GameFi Guides

BlackRock Resumes Ethereum Acquisition After Single Sell-Off

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Just a day after the world’s largest asset manager, BlackRock, stunned the crypto community with a massive Ethereum sell-off attempt involving 8,172 ETH, the investment firm is back at it again with a new ETH buy, according to the latest update from data analytics platform Lookonchain.

According to the data provider, BlackRock withdrew a total of 11,185 ETH from Coinbase Prime in less than an hour. The purchase, which happened in two separate transactions, was worth about $27.2M per ETH’s price at the time of purchase.

The first-ever sell-off since BlackRock embarked on its deliberate decision to continuously acquire ETH tokens happened yesterday when ETH price fell harder, dropping far below the crucial support level of $2,500.

Meanwhile, the firm made another ETH deposit to Coinbase Prime about five hours prior to the latest ETH buy. The second sell-off attempt involved over 10,500 ETH worth a total of $24.15 million.

Source: Lookonchain 

This saw BlackRock breaking its 30 consecutive days of ETH acquisition with two massive sell-offs, which has triggered debates among market participants about whether the firm was only responding to the market volatility or selling off its holdings.

Although the reason behind the deposits was not disclosed, the general narrative behind the transfer of large assets like this to an exchange suggests a move to sell by the holder.

While the token had resumed a sharp resurgence a few hours after this shocking move, there were speculations that the Ethereum deposits made by BlackRock earlier could be the firm’s attempt to rebalance its portfolio. 

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Nonetheless, activities from the investment firm often had an impact on ETH’s price movement due to the large volume they own.

BlackRock’s decision to resume its ETH accumulation strategy signals growing interest among institutional investors in Ethereum as an asset that offers quality investment opportunities and stands beyond just a store of value.

Nonetheless, BlackRock’s $27.2 million Ethereum purchase coincides with a massive surge in Ethereum’s price since the last day.

Source: CoinMarketCap 

As of press time, Ethereum was trading at $2,433.33, representing a 5.54% increase in its price in the last 24 hours. 

This significant surge in Ethereum’s price signals renewed confidence among retail and institutional investors.



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Solana (SOL) Drops 8% as Middle East Conflict Intensifies, Driving Crypto Sell-Off

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Solana (SOL)

is trading at $128.82, down 8.33% in the past 24 hours, after a steep intraday correction linked to rising geopolitical tensions. The token dropped from $140.39 to $127.25, with the sharpest hourly decline occurring at 13:00, when sell pressure spiked and trading volume exceeded 4 million, according to CoinDesk Research’s technical analysis model.

The market reaction followed confirmed reports of U.S. military strikes targeting Iranian nuclear sites, triggering widespread risk aversion across crypto markets.

Some traders now worry that a closure of the Strait of Hormuz, even if temporary, could send oil prices soaring. That would likely stoke inflation, reduce the odds of near-term Fed rate cuts, and prolong the risk-off environment hurting crypto markets. A direct attack on the waterway could intensify the sell-off in altcoins, as bitcoin dominance historically rises during periods of geopolitical turmoil.

SOL’s decline also marked a break below key technical levels, including the 200-day simple moving average near $149.54. Throughout the session, SOL printed lower highs and struggled to sustain rebounds, pointing to weakening market structure. With elevated volume on red candles and technical indicators flashing bearish, traders are now watching the $120–$125 zone as a potential support area.

Technical Analysis Highlights

  • SOL dropped 8.1% from $140.39 to $129.02 during the analysis period, forming an $11.37 decline.
  • The session’s widest price range stretched from $141.14 to $126.85, a 10.2% intraday swing.
  • The largest hourly drop occurred at 13:00, with price falling from $133.58 to $128.82 on 4.03M volume.
  • A descending channel developed across the session, with lower highs and lower lows confirming bearish structure.
  • Key resistance formed at $133.80, which capped multiple rebound attempts.
  • Initial support emerged at $127.43, while a new intraday floor formed at $128.90.
  • From 15:25 to 15:27, a volume spike pushed price below $129.30 during a continuation sell-off.
  • Late-session movement showed SOL trading between $130.42 and $128.85 under consistent sell pressure.
  • Several recovery attempts near $130.05 failed as volume increased on each rejection.
  • Significant supply concentration appeared near $130.20, reinforcing short-term bearish momentum.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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Sell-Off Continues as SHIB Burn Rate Skyrockets to 112,000%

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Shiba inu’s (SHIB) supply-side dynamics are screaming bullish, yet the second-largest joke cryptocurrency by market value trades under pressure.

Early this week, SHIB’s burn rate surged to over 112,000%, with more than 116 million coins transferred to wallets that cannot spend money. In other words, these coins were permanently taken out of circulation.

The daily burn rate refers to the number of SHIB tokens permanently destroyed or removed from circulation each day. Token burns are designed to decrease the supply of the cryptocurrency over time, bringing a deflationary appeal to the digital asset.

“Over 527 trillion SHIB tokens are approaching profitability, while the burn rate exploded 112,839% with 116 million tokens removed from circulation,” CoinDesk’s AI insights noted.

Furthermore, SHIB’s ecosystem fundamentals demonstrated strength, with record wallet growth exceeding 1.5 million unique addresses and significant increases in Shibarium layer-2 transactions.

Still, the memecoin remained locked in a downtrend at press time, last changing hands at $0.00001190, representing a 2% drop over the past 24 hours and a nearly 5% decline for the week.

Overnight, the token faced strong selling pressure, with above-average volume exceeding 500 billion units, establishing resistance around $0.0000122.

Key technical insights

  • The double-bottom pattern is forming on charts, signalling a potential 20% rally to $0.000016.
  • Key resistance has been established at $0.0000122, backed by above-average volumes.
  • The narrow trading range ($0.00001203-$0.000012) indicates the consolidation phase.
  • Volume spikes at 07:35 and 07:46-07:47 coincided with price recovery attempts.



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Crypto Trends

AVAX Surges 6% After Musk/Trump Dispute Sell-Off

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Crypto markets were shaken on Thursday when U.S. President Donald Trump and Tesla CEO Elon Musk engaged in a heated argument on social media over the U.S. national debt, which cumulated in the world’s richest man endorsing Trump’s impeachment and claiming the twice-elected politician was implicated in the Jeffrey Epstein files.

Avalanche’s token, AVAX

, was among those hit, dropping to as low as $18.48 from $20.14. It has since rise 6% to $19.65 to reclaim nearly 58% of the losses while forming a promising ascending channel pattern with resistance at $19.76, according to CoinDesk Research’s technical analysis model.

The token has lost 1% over 24 hours, while the CoinDesk 20, an index of the top 20 cryptocurrencies by market cap except for stablecoins, exchange coins and memecoins, has dropped 0.85%.

Recent trading sessions show decisive buying pressure, with notable volume spikes coinciding with price surges that briefly pushed AVAX to a local high of $19.76. Market analysis points to the consistent formation of higher lows over the past 14 hours as evidence of strengthening bullish momentum, with the $20.00 psychological level now within reach if current trajectory holds.

Technical Analysis

• AVAX experienced a sharp 8.14% decline from $20.14 to $18.48, with peak selling pressure when volume surged to 3.65 million.

• Strong support established at $18.48, with price subsequently climbing steadily to $19.65, reclaiming 57.8% of losses.

• An ascending channel pattern has formed with resistance at $19.76.

• Notable high-volume support emerged at $18.48-$18.88.

• Consistent higher lows over the past 14 hours indicate strengthening bullish momentum.

• In the last hour, AVAX continued recovery with a 1.01% gain from $19.49 to $19.69.

• Volume spikes occurred (45,299 and 64,948 units), coinciding with price surges to a local high of $19.76.

• Current price action shows strengthening bullish sentiment with support levels around $19.53-$19.55.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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Dogecoin (DOGE) Bollinger Bands Signal Sell-Off May End Soon
NFT Gaming

Dogecoin (DOGE) Bollinger Bands Signal Sell-Off May End Soon

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The king of meme coins, Dogecoin (DOGE), is facing sell-off pressure as trading volume is down by 51.14% at $998.95 million. However, DOGE’s Bollinger Bands suggest a potential end to the bearish sentiments anytime soon.

Dogecoin near oversold territory

As per CoinMarketCap data, Dogecoin’s Bollinger Bands short-term nine-day moving average remains trading below the 21-day average. With DOGE trading right at the lower end of the bands, it suggests that the meme coin is nearing the oversold region, and the price might likely change as the sell-off eases out.

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Notably, the Bollinger Bands indicate overselling is in and a potential imminent price reversal for DOGE. The current setup often precedes a significant price shift of an asset, and Dogecoin looks to experience the same soon.

DOGE Bollinger Bands Indicator | Source: TradingView/CoinMarketCap

Meanwhile, the plunge in trading volume shows declining interest from market participants as buyers are reluctant to continue buying the meme coin. This development could trigger a price recovery as demand drops and prices begin to appreciate.

As of this writing, DOGE was changing hands at $0.1870, representing a 5.38% increase in the last 24 hours. This uptick indicates that buying interest is gradually returning.

However, if volume stays down and does not return to the green zone, the price rebound could lose momentum and slip back.

What could trigger DOGE rebound?

Dogecoin needs to hold above $0.170 and stabilize to attract buying interest from traders. This could support a rebound to higher levels of $0.2. Without increased volume or a broader market catalyst, the recovery risks further decline.

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Bitcoin is also on an upward trajectory in the broader market, gaining 1.43% in the last 24 hours. This uptick could rub off on Dogecoin and other altcoins.

Unlike DOGE, Bitcoin volume outlook is better off despite being in the red zone. Bitcoin has a 28.92% decline in volume at $44.45 billion.

Other bullish ecosystem indicators are the recent spike in open interest, which increased by a significant 1.78% despite volatility threats. This suggests investor confidence has not waned in the meme coin.



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Crypto Trends

Bitcoin Sell-Off Warning? Miner-To-Exchange Transfers Hit Historic Highs

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin (BTC) experienced a mild sell-off yesterday, hitting a daily low of $100,372 on Binance crypto exchange. However, recent on-chain data suggests the price slump may persist, as BTC miners continue transferring coins to exchanges at unprecedented levels.

Bitcoin Miners-To-Exchange Transfers Hit Record High

According to a recent CryptoQuant Quicktake post by contributor CryptoOnchain, the total realized inflow from Bitcoin miners to exchanges has surged to historic highs. This spike likely contributed to the recent price tumble from the mid-$100,000 range.

For the uninitiated, Bitcoin miners’ total realized inflow to exchanges measures the actual amount of BTC that miners have transferred from their wallets to cryptocurrency exchanges. A sharp rise in this metric typically signals that miners are selling more of their holdings, which can increase supply in the market and potentially drive prices down.

CryptoOnchain shared the following chart showing miners’ inflows surpassing $1 billion per day between May 19 and May 28, 2025. If this trend continues, BTC could face a deeper correction, potentially falling into the low $90,000 range.

Source: CryptoQuant

A similar trend was observed earlier this year in January when BTC was in the midst of a historical rally, creating multiple new all-time highs (ATH) in quick succession. At the time, BTC miners offloaded close to 140,000 coins for roughly $13.72 billion.

Meanwhile, seasoned crypto analyst Ali Martinez pointed out another bearish signal. In an X post, he noted that the Bitcoin Market Value to Realized Value (MVRV) ratio has fallen below its 200-day simple moving average (SMA) – a sign that may lead to further selling pressure.

Source: ali_charts on X

When the MVRV ratio falls below its 200-day SMA, it suggests that the average market participant is holding Bitcoin at a loss or near break-even. This often indicates bearish sentiment or undervaluation, which can trigger further selling among small investors.

BTC Holders Cautiously Optimistic

Adding to the rising uncertainty, yesterday’s public feud between US President Donald Trump and Elon Musk further dampened market sentiment. Some analysts now predict BTC could fall as low as $96,000.

Fellow crypto analyst Anup Ziddi made a similar bearish forecast. The analyst recently stated that as long as BTC remains below $107,000, its chances of further crashes will remain elevated.

That said, there are still reasons for cautious optimism. Recent on-chain data shows that new Bitcoin whales are aggressively accumulating the asset, reinforcing the potential for a future supply squeeze. At press time, BTC is trading at $104,963, up 0.2% in the past 24 hours.

BTC trades at $104,963 on the daily chart | Source: BTCUSDT on TradingView.com

Featured Image from Unsplash.com, charts from CryptoQuant, X, and TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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30,490,000,000,000 SHIB Activated Amid $687 Million Market Sell-Off
NFT Gaming

30,490,000,000,000 SHIB Activated Amid $687 Million Market Sell-Off

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  • Crypto market dips
  • 30,490,000,000,000 SHIB activated

Dog-themed cryptocurrency Shiba Inu saw a price dip with other assets in the early Saturday session as the crypto market extended its sell-off. At the time of writing, SHIB was down 5.25% in the last 24 hours to $0.00001257 and down 12.69% weekly.

After a brief consolidation toward the end of May, the Shiba Inu price began to decline on May 28 and will mark the fourth day of losses if today closes in the red. In Friday’s session, SHIB fell sharply below the daily SMA 50 at $0.00001378 for the first time in weeks, specifically since April 22.

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If the Shiba Inu price remains below the 50-day SMA, it may indicate that the bulls are exiting the market. Shiba Inu’s price could fall to $0.00001, at which point buyers are expected to step in. A bounce off $0.0001 may signal short-term range trading.

Crypto market dips

The larger crypto market saw a sell-off, with major cryptocurrencies dropping.

A total of $687 million in liquidations slammed traders, with 89% of them, or $600 million, on the long side, suggesting a heavily bullish market. The largest single liquidation order was a $12.25 million BTC/USDT on OKX, according to CoinGlass data.

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A price reversal might be on the horizon as a cascade of liquidations may indicate a market turning point due to an overreaction in market sentiment.

30,490,000,000,000 SHIB activated

Shiba Inu extended its decline in Saturday’s session to lows of $0.00001226, entering a range where 30.49 trillion SHIB were previously bought.

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According to IntoTheBlock data, 30.49 trillion SHIB tokens are held by 64,000 addresses in the range of $0.000012 and $0.000013.

As Shiba Inu trades in this cluster, all eyes are on where it will go next. Support sits next at $0.000008 and $0.000012, where 60.37 trillion SHIB currently sits. Massive resistance lies at $0.000014 and $0.000019, where 577.47 trillion SHIB were previously bought.



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XRP Down 4% as Global Economic Tensions Trigger Market Selloff

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Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.

He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.



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$SHIB Stages Remarkable Recovery After Mid-Day Sell-Off

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Geopolitical tensions and shifting trade policies continue to influence cryptocurrency markets, with Shiba Inu ‘s SHIB token demonstrating remarkable resilience amid broader economic uncertainty.

After experiencing a significant mid-day sell-off, SHIB staged an impressive recovery during the 22:00 hour, surging 3.0% on nearly 900 billion in volume before establishing a new resistance level at $0.0000147.

Technical Analysis Highlights

  • HIB established a trading range of 0.000007 (5.24%) between the low of 0.0000139 and high of 0.0000147 over the 24-hour period.
  • The token experienced a significant sell-off during the 15:00 hour, dropping to its lowest point before finding strong volume support.
  • A decisive recovery occurred during the 22:00 hour where price surged 3.0% on nearly 900 billion in volume.
  • Bullish momentum continued into the final hours, with SHIB establishing a new resistance level at 0.0000147.
  • In the last hour, SHIB experienced notable volatility with a 4.5% price swing between the low of 0.00001453 and high of 0.00001463.
  • After establishing support at 0.00001455, SHIB staged a strong recovery beginning at 01:26, surging to 0.00001463 by 01:46 on increasing volume that peaked at 30.15 billion.
  • Momentum faltered in the final 15 minutes as selling pressure emerged, creating a descending channel that brought prices back to 0.00001457.

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BTC Slips Below $107.5K on Tariff Sell-Off Fears

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Bitcoin’s recent pullback has established strong volume-based resistance near $108,300, with support forming in the $106,700-$107,000 zone.

The correction accelerated with a notable price surge from $107,373 to $107,671 between 13:06-13:36, followed by a sharp reversal.

Technical analysis suggests Bitcoin is now trading within a compression zone, trapped between two major fair value gaps that will determine the upcoming market direction.

If bulls reclaim the $109K to $110K area, price could push toward resistance beyond $112K, while a break below $107,000 might test liquidity around $106K.

Technical Analysis Breakdown

  • The decline accelerated during the 22:00-23:00 hour on May 24th with exceptionally high volume (16,335 BTC), establishing a strong volume-based resistance near $108,300.
  • Support has formed in the $106,700-$107,000 zone where buyers emerged during the 09:00-10:00 period on May 25th, though recovery attempts have been modest with price consolidating around $107,500.
  • The overall technical structure suggests a short-term bearish trend with potential for further consolidation before directional clarity emerges.
  • Bitcoin experienced significant volatility with a notable price surge from $107,373 to $107,671 between 13:06-13:36, followed by a sharp reversal that saw prices decline to $107,393 by 14:00.
  • The most substantial price movement occurred during the 13:35 minute candle where BTC jumped nearly $150 with exceptionally high volume (148.76 BTC), establishing temporary resistance around $107,630.
  • Support formed near $107,400 where buyers emerged during the final minutes of the period, though the overall technical structure suggests continued consolidation within the broader correction from the $109,239 high.

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