BlackRock's Bitcoin holdings rose over $537M in May before recent sell-offs impacted BTC price.

In May, BlackRock's iShares Bitcoin Trust (IBIT) increased its Bitcoin holdings by over $537 million, rising from about 810,000 to 823,000 BTC early in the month. However, the fund later reduced its holdings by 6,000 BTC, signaling a shift from accumulation to distribution. Despite holding $7.9 billion in unrealized losses, BlackRock investors continue to buy Bitcoin, showing strong institutional confidence. Bitcoin's price mirrored these moves, peaking above $82,200 during accumulation and dropping nearly 5% to around $76,570 amid recent sell-offs, suggesting further price fluctuations may follow BlackRock's trading activity.