BlackRock Flips to $250M BTC Buying After 14-Day Sell Streak, Arkham Shows

BlackRock purchased $250 million worth of Bitcoin over a two-day span, according to on-chain data tracked by Arkham, marking an abrupt reversal after the asset manager had been a net seller of BTC every day for more than two weeks. The flip in wallet activity coincides with Bitcoin’s recovery from the $58,000 level it opened July at to a recent high near $64,000.

Arkham’s data desk flagged the shift in a public post on X, noting the sustained daily selling that preceded the buying and posing the open question of how much BlackRock adds this week. The reversal is the clearest signal yet that the firm’s custodial wallets, widely tracked as a proxy for spot ETF demand, have swung from distribution back to accumulation.

What the Wallet Flip Implies for Positioning

The timing matters for traders reading flow data as a bottom signal. BTC is currently trading nearly 50% below its 2025 all-time high of $126,080, and a resumption of institutional buying at these levels could reinforce the case that large allocators view current prices as a floor rather than a falling knife.

Seasonality data cited from CryptoQuant shows Bitcoin has historically posted gains in July, a pattern the asset’s move from $58,000 to $64,000 this month appears to track. Anthony Scaramucci has said he believes Bitcoin has already bottomed and projects BTC reaching $77,000 by July 2026, though that figure remains a single analyst’s forecast rather than a confirmed market structure signal.

Macro Backdrop Still Carries Downside Risk

The buying reversal comes against a macro backdrop that remains unsettled. US inflation rose to 4.2% in May 2026, and the Federal Reserve has held interest rates unchanged in response, with many traders now pricing in the possibility of a rate hike later this year rather than cuts.

An escalating US-Iran dispute adds another variable, with the potential for an oil price spike to feed back into inflation and pressure risk assets broadly. A rate hike scenario would likely weigh on Bitcoin and could trigger another leg down even if institutional wallets keep accumulating in the near term.

Watching for Follow-Through From Other Allocators

If BlackRock’s buying at current levels persists into subsequent weeks, on-chain researchers will be watching for other large asset managers and corporate treasuries to follow the same pattern, treating the $58,000-$64,000 range as a re-entry zone. For now, the two-day, $250 million reversal stands as an isolated but notable data point after weeks of net distribution.

Read more: BTC Holds $62K as Fear Index Hits 22, Longs Outweigh Shorts 66-34