SpaceX and BlackRock Move $296M in Bitcoin to Coinbase Prime Ahead of 25-basis-point U.S. Federal Reserve Rate Cut
SpaceX and BlackRock transferred more than $296 million in Bitcoin to Coinbase Prime ahead of a 25-basis-point U.S. Federal Reserve rate cut, adding to market unease. The moves involved 1,021 BTC and 2,196 BTC, respectively, and came amid sharp BTC price swings between $88,000 and $94,500 and a monthly drop of over 14%. Traders are split on whether the flows are routine custody shifts or positioning to sell during a volatile macro backdrop.