[Analyst: $1.3 Billion IBIT 'Dark Pool' Sell-Off May Be the Trigger for BTC's Rapid Decline] BlockBeats News, May 27 — Analysts have indicated that a $1.3 billion dark pool transaction 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 single transaction on the dark pool market at 14:30 UTC on Tuesday, with a transaction value of approximately $1.3 billion. Following the transaction, Bitcoin's price quickly dropped from $77,875 to $76,720 within 10 minutes, and subsequently further declined to around $75,600. Alex Thorn, Head of Research at Galaxy Digital, stated that this was the largest IBIT dark pool transaction he has ever seen. Bloomberg ETF analyst Eric Balchunas also noted that the size of this sell order was 22 times larger than 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 cumulative outflows exceeding $2 billion since May 14. On Tuesday alone, IBIT saw a net outflow of approximately $192 million. Additionally, Jane Street reduced its Bitcoin ETF holdings by about 70% in the first quarter, while Goldman Sachs also cut its holdings by around 10%, indicating that some institutions are reducing their exposure to Bitcoin ETFs. [Original Link]