On Christmas Eve, BlackRock made a major move. On December 24th, this asset management giant transferred 2,292 BTC and 9,976 ETH to the exchange, worth nearly $230 million. And then? Within a few hours, they repurchased part of the position. It seems simple, but there is a hidden complexity—this is a model of institutional-level liquidity management.

Why do this? Large positions require channels, and exchanges are the most efficient liquidity pools. What does BlackRock’s approach indicate? First, a continued optimism for $BTC and $ETH (they don’t move in and out without reason), and second, they aim to grasp the market rhythm even during holidays.

From a market perspective, continuous position adjustments by institutions often signal that a new driving force may be emerging in the price. When $BTC approaches historical highs, such large-scale operations become even more meaningful. What can retail investors learn? Don’t blindly follow the trend, but closely monitor institutional movements—where their funds are, is often where the next market hotspot will be.