Bitcoin (BTC) price was rejected again at last week’s resistance level around $78,000 over the past 24 hours, following a massive single sale from BlackRock’s iShares Bitcoin Trust (IBIT)
On May 27, BTC price had dropped nearly 2% over the past 24 hours, trading at approximately $75,680 at press time. As such, its market capitalization slipped by nearly $30 billion during the same period to hover about $1.5 trillion at the time of reporting.
The flagship coin experienced heightened selling pressure on Wednesday, largely fueled by a notable sale from an IBIT investor. On May 26, BlackRock’s IBIT recorded its largest single sale of $1.289 billion through a dark pool – an alternative trading system where large institutional investors can buy or sell securities anonymously.
Precisely, a sale order of 29,212,864 IBIT shares was initiated on Tuesday, as the fund’s stock price hovered around $43.16, based on data from Bloomberg.
What’s next for Bitcoin amid IBIT sell-off
Following the notable selloff of IBIT on Tuesday, the fund has now registered seven consecutive days of cash outflows. After closing the day with a net liquidation of $192.44 million, based on metrics from SoSoValue, IBIT has now seen a net outflow of $1.33 billion over the past seven days.
Amid the ongoing sell-off in U.S. spot BTC exchange-traded funds (ETFs), Finbold AI Agent – an advanced financial assistance tool – has predicted further selling over the coming days.
The Finbold AI Agent predicted that BTC price could drop nearly 4% to retest its support level at about $72,884 by June 3, 2026.
