TLDR
- A trader sold $1.3B of BlackRock’s Bitcoin ETF (IBIT) on a dark pool, the largest such trade ever recorded.
- BTC dropped 2.8% within 12 hours of the trade, falling to a 24-hour low of $75,600.
- US airstrikes on Iran added to market uncertainty, with crypto funds posting the third-largest weekly outflow of 2026.
- US spot Bitcoin ETFs have now seen eight straight days of net outflows, totalling over $2 billion since May 14.
- BTC needs to reclaim $79,000 to shift short-term momentum back to buyers.
A trader sold 29.2 million shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT) at 2:30 pm UTC on Tuesday, May 27. The $1.3 billion transaction was made on a dark pool, a private trading platform used by institutions to execute large trades away from public markets.
massive $1.289 billion IBIT block sale by unknown party through dark pool at 10:30am today, biggest such trade i've ever seen pic.twitter.com/9qGDqkfCbu
— Alex Thorn (@intangiblecoins) May 26, 2026
The impact was immediate. TradingView data shows Bitcoin dropped 1.5%, from $77,875 to $76,720, in just ten minutes after the sale. BTC then continued lower, hitting a 24-hour bottom of $75,600 roughly 12 hours later, a total fall of 2.8% on the day.
Alex Thorn, head of firmwide research at Galaxy Digital, said it was the biggest dark pool trade in Bitcoin ETF history that he has seen. Bloomberg ETF analyst Eric Balchunas noted the sale was more than 22 times larger than the second-biggest IBIT sell order recorded that same day.
Crypto trader Daan Crypto Trades posted on X: “Clean retest of the April 2025 lows with a decent bounce so far. But the level to break for continuation remains the low $80Ks. Below $74K I’d say bears are back in control.” His comments reflect how closely traders are watching short-term support and resistance levels right now.
$BTC Clean retest of the April 2025 lows with a decent bounce so far.
But the level to break for continuation remains the low $80Ks.
Below $74K I'd say bears are back in control on the low to mid timeframe as well.
So from here we'll just wait and see which side breaks first… pic.twitter.com/pQLg4XVEHt
— Daan Crypto Trades (@DaanCrypto) May 26, 2026
ETF Outflows Hit a New Streak
US spot Bitcoin ETFs have now recorded eight consecutive days of net outflows. Tuesday saw $333.6 million leave the funds, including $192.4 million from IBIT alone. In total, more than $2 billion has exited since May 14, the last day of net inflows.
Institutional market maker Jane Street cut its Bitcoin ETF holdings by around 70% in Q1. Goldman Sachs reduced its Bitcoin ETF position by 10% over the same period. These moves point to a broader pullback in institutional exposure to Bitcoin products.
Institutions came back from a 3-day holiday and started dumping $BTC straight away.
On the other hand, the stock market just hit another ATH. pic.twitter.com/CyhCsStAWt
— Ted (@TedPillows) May 26, 2026
The wider digital asset fund market also felt the pressure. CoinShares data showed that crypto investment products lost $1.47 billion last week. Bitcoin products accounted for $1.315 billion of that, with Ethereum funds losing another $223 million. It was the third-largest weekly outflow of 2026.
US Strikes on Iran Add to Market Pressure
The backdrop of rising geopolitical tension added to the cautious mood. The US conducted fresh airstrikes on southern Iran on Monday, targeting missile launch sites and boats allegedly involved in mine-laying. US Central Command described it as a self-defense operation.
Iran’s Islamic Revolutionary Guard Corps claimed it shot down a US drone over Iranian airspace. State media also reported that Iran fired at a fighter jet and a second drone. Peace talks between the two sides remain ongoing in Qatar, but no agreement has been reached.
Despite the news, Bitcoin and Ethereum opened slightly higher than Monday. At time of reporting, BTC was trading at around $77,686 on the 4-hour chart, up 0.74%, following a recovery from recent lows.
The Relative Strength Index stood near 57.80, below overbought territory. The Chaikin Money Flow indicator rose to 0.42, pointing to stronger capital inflows during the recent bounce. If BTC can hold $77,500 and break above $79,000, analysts say a push toward $81,000 becomes possible. A drop below $75,000 would open the door to $73,500.
