130M IBIT Dark Pool Sell Order May Have Triggered BTC's Sharp Drop

KuCoinFlash

Release Time: 05/27/2026 05:24:41

BTC

$73,936.800.8%

Summary

On May 27, the BTC price dropped sharply following a $1.3 billion dark pool trade of BlackRock’s IBIT. At 14:30 UTC, a trader sold 29.2 million shares in a single transaction, causing the BTC price to fall from $77,875 to $75,600 within 10 minutes. Galaxy’s Alex Thorn described it as the largest IBIT dark pool trade he had ever seen—the order was 22 times larger than the second-largest trade of the day. Since May 14, U.S. spot Bitcoin ETFs have experienced $2 billion in net outflows. Altcoins to watch may respond to ongoing ETF outflows and institutional activity. Jane Street reduced its Bitcoin ETF holdings by 70% in Q1, while Goldman Sachs cut its stake by 10%.

BlockBeats news: On May 27, analysts suggested that a $1.3 billion dark pool trade involving BlackRock’s Bitcoin ETF (IBIT) may be linked to Bitcoin’s recent rapid decline.

Data shows that a trader sold 29.2 million shares of IBIT in a dark pool market at 14:30 UTC on Tuesday, with a transaction value of approximately $1.3 billion. Immediately after the trade, Bitcoin’s price dropped rapidly from $77,875 to $76,720 within 10 minutes, before further declining to around $75,600.

Alex Thorn, Head of Research at Galaxy Digital, said this was the largest IBIT dark pool trade he had ever seen. Bloomberg ETF analyst Eric Balchunas also noted that this sell order was more than 22 times the size of the second-largest IBIT sell order of the day.

Meanwhile, U.S. spot Bitcoin ETFs have experienced net outflows for eight consecutive trading days, with total outflows exceeding $2 billion since May 14. Among them, IBIT recorded a single-day net outflow of approximately $192 million on Tuesday.

In addition, Jane Street reduced its Bitcoin ETF holdings by approximately 70% in the first quarter, while Goldman Sachs also decreased its position by about 10%, indicating that some institutions are lowering their exposure to Bitcoin ETFs.

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