The world’s largest asset manager, BlackRock, has notably been on a Bitcoin selling spree throughout this week, triggering a wave of sell-offs in the process. These sales have occurred due to the outflows that the asset manager has witnessed from its BTC ETF. 

BlackRock Dumps Around $500 Million In Bitcoin

Arkham data shows that BlackRock has offloaded around $500 million in Bitcoin this week, with transfers to Coinbase, a move that indicates a move to sell these coins. The asset manager has sold these coins following outflows from its iShares Bitcoin ETF, which was the norm throughout this week.

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SoSo Value data shows that BlackRock’s Bitcoin ETF first recorded a daily net outflow of $68.72 million on August 18. The fund then further saw net outflows of $220 million, $127.49 million, and $198.81 million on August 20, 21, and 22, respectively. Notably, the iShares Bitcoin ETF has accounted for most of the outflows, with the BTC ETFs as a group currently on a six-day streak of consecutive net outflows. 

These Bitcoin ETFs have seen total net outflows of almost $1.2 billion since August 15. Meanwhile, in just this week alone, over $1.1 billion has left these funds, sparking a bearish sentiment for the BTC price. Given BlackRock’s position as a major player in the Bitcoin ecosystem, outflows from its fund had sparked a wave of sell-offs. This led to a massive decline for the flagship crypto earlier in the week. 

The Bitcoin price had dropped to as low as $112,000 this week as BlackRock and other BTC investors took profit on their investments. This followed the flagship crypto’s rally to a new all-time high (ATH) of $124,000 last week. However, BTC has now sharply rebounded on the back of Jerome Powell’s Jackson Hole speech, in which he indicated that a rate cut might happen in September. 

An End To The BTC ETF Outflow Streak

Notably, Powell’s speech was enough to spark fresh inflows into the Bitcoin ETFs on August 22, with BlackRock the only fund manager that recorded a net outflow on the day. Further data from SoSo Value shows that Cathie Wood’s Ark Invest recorded a daily inflow of $65.47 million, the most among the issuers on the day. 

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Meanwhile, Fidelity, Van Eck, Franklin Templeton, Bitwise, and Grayscale recorded inflows of $50.88 million, $26.41 million, $13.51 million, $12.70 million, and $6.42 million, respectively. However, BlackRock recorded an outflow of $198.81 million, which led to a daily net outflow of $23.15 million for the funds as a group. With the Bitcoin price rebounding, these funds, including BlackRock’s IBIT, could return to witnessing significant daily inflows from next week.

At the time of writing, the Bitcoin price is trading at around $115,900, up over 2% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Pixabay, chart from Tradingview.com

Large-scale liquidation in the crypto landscape makes people wonder what the best cipher to buy now. The market looks bearish right now as Bitcoin (BTC) has fallen from $117,000 to $113,000 and Ethereum has fallen from $3.7,000 to $3.4K.

According to X’s post by Maelstrom CEO Arthur Hays, macroeconomic factors such as weak credit expansion across the major economies are slowing growth in nominal GDP and could be involved in reducing BTC and ETH to $100K and 3K levels.

24 hours7d30D1Yeverytime

Hayes’ comments reflect broader industry concerns that harsher credit, rising tariffs and tensions from the cooling labor market could derail the upward trajectory of the crypto.

BTC has slid 7.7% since its peak at $123,000 on July 14th, while ETH has fallen 12.5% since violating the $3.9,000 barrier on July 28th. The retreat to $100K represents a pullback of 18.7% from the recent highs in BTC.

Meanwhile, many industry analysts point out that BTC is past double digit pullbacks of all kinds. Bloomberg ETF analyst Eric Balknass notes that since BlackRock’s spot BTC ETF filing, the crypto king has faced a lesser degree of volatility.

Bitcoin cycles, as we know, are dead.

This phase cannot be compared to a phase that has come before.
It’s not on scale.
It’s not a structure.
It’s not something that’s in danger.

What we’re looking at now is not a response to supply, but the way Bitcoin is absorbed into the system.

That flows…

-IE Nagar (@Elinagarbrr) August 2, 2025

Meanwhile, the Fear and Greed index fell from 65 on Thursday to 53, and is now in the neutral zone. However, analysts argue that the decline in BTC is nothing more than a bullish reset.

Explore: Best Meme Coin ICO to Invest in August 2025

XRP trading volume increases rapidly amid large-scale sales

XRP witnessed a massive shortcoming yesterday, falling nearly 9% from $3.02 to $2.75 before the Bulls managed to get back to $2.83. The decline comes amidst a surge institutional sales, resulting in trading volumes rising more than twice the norm.

24 hours7d30D1Yeverytime

The market raged on XRP with a 24-hour volatile window that closes on August 3rd. On August 2nd, traders exchanged a massive 222.24 million XRP tokens.

Incredibly, this all happened on August 2, 2025 in a four-hour window.

XRP finally found a footing for $2.75, but whenever it exceeded $2.84, it met consistent resistance.

$ xrp It’s bounced back! pic.twitter.com/tuzeu47co3

– cryptogoos (@crypto_goos) August 3, 2025

Now, all eyes are stuck with whether XRP can hold the ground at the $2.75 level. Conversely, it must break above the $2.84 level to indicate that the bearish trend is over.

The 24-hour range shows XRP has dropped by more than 8.91% on a price swing of $0.27. There may be a quiet buildup that forms under the $2.80 mark, but without putting any pressure on it, it’s all smoke.

Explore:12+ Hottest Encryption Presale to Buy Now

Sharplink has added $54 million to its ETH and currently holds $165 million worth of ETH

by Arijit Mukherjee

Game company Sharplink has once again splashed out on ETH, adding another 15,882 ETH (a Kitty worth about $53.9 million).

According to data from Arkhan Intelligence, the acquisition took place in several transactions, with the largest transaction including 6,914 ETH, worth $2356 million.

This has resulted in Sharplink’s total ETH holdings skyrocketing to 480,031 ETH, worth around $1.65 billion based on current market prices.

Sharplink has built a larger ETH position than most L1’s finances

480,000+ ETH

Exposure is $1.65 billion

If ETH is the new basic layer of global finance

They’re quick and serious pic.twitter.com/joou7ibm3w

– Christian Schumacher (@chris_schumach_) August 3, 2025

Additionally, over the past 48 hours, the company has spent $108.57 million to acquire 30,755 ETH with an average price of $3,530.

Explore: Best Meme Coin ICO to Invest in August 2025

XRP price forecast this week

by Arijit Mukherjee

Analysts suggest that XRP’s four-hour price charts show signs of bullish divergence, which could lead to a 20% short-term price surge by the end of August.

According to their calculations, XRP price actions create a series of low lows, as opposed to the higher lows made by the relative strength index (RSI). This difference between prices and RSI often reflects a weaker momentum.

3 Hour XRP Update: Price has been changed by +0.01%.
Support Level: $2.85237
Resistance Level: $2.89468
Current price: $2.87066
Time: 2025-08-03 12:00:07#ripple #xrp #xrppricealerts pic.twitter.com/g8orx5gdwt

– – #xrppricealerts (@xrppricealerts) August 3, 2025

A classic falling wedge on the 4-hour chart shows XRP looking for a breakout. The XRP/USD pair bounces off the lower edge of the wedge around the 200-4H EMA (The Blue Wave), indicating that the buyer is intervening.

Violating XRP’s top price trendlines will launch a rally of up to 20%, potentially targeting the range of $3.60-$3.65, and close to $3.07 for the exchange level of 0.236 Fibonacci.

Explore: 9+ Best High Risk, High Reward Crypto Buy in August 2025

Crypto Weekly Recap: Who won, who lost?

by Arijit Mukherjee

As another week approaches the end, the civic landscape resembles a mix of victory and loss.

According to CoinmarketCap data, BTC remains dominant at $114,181 despite conservative fluctuations. ETH follows the lawsuit and trades for $3,509, while XRP rounds up the Big Three and trades for $2.88 after a big sell-off.

The overall crypto market capitalization is currently at $3.69 trillion.

I zoomed in on my list of top 100 digital assets and some altcoins worked well. The top three Altcoin winners this week are four (form) who lead the pack with a 12.96% rise, followed by Toncoin (Ton), Story (IP) at 10.00%.

Conversely, some altcoins didn’t do that well. Fartcoin (Fartcoin) scored its biggest hit at 30.55%, while Bonk (Bonk) and Virtuals Protocols (Virtual) fell by 23.03% at 28.08%.

Explore: 10+ crypto tokens that can hit 1000X in 2025

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Veteran on-chain analyst Willy Woo is warning that Bitcoin (BTC) may have a market correction if one key event does not happen in the near term.

Woo tells his 1.2 million followers on the social media platform X that Bitcoin needs to print new all-time highs or the flagship crypto asset may flip bearish.

“If we don’t get further highs soon, BTC will be setting up for bearish divergences on longer range charts at a time when capital inflows have been weaker than normal with speculation running too hot. If that happens we will need to wear out another wave of profit taking.”

However, the analyst says that the Bitcoin Risk Signal, which gauges whether BTC is at risk of a major drawdown in price, is flashing bullish, and possibly setting the flagship crypto asset up to print new all-time highs this week.

“Still, the broader picture is bullish with the risk signal dropping. If buying follows through this week, $114,000 is next in line to liquidate shorts. But right now there’s an opening for a bearish pivot.”

Woo also points out a concerning trend that Bitcoin’s spent output profit ratio (SOPR), which tracks whether coins are being sold at a profit or loss, indicates investors are sitting on substantial profits, suggesting they may be inclined to sell at any sign of a downturn.

“Speculation is going nuts on BTC at a time when there’s plenty of investor profits to take (SOPR). Reminds me of ‘be fearful when others are greedy.’ A lot comes down to how much buying happens this week when US markets open after a long weekend.”

Lastly, Woo says that investors buying Bitcoin has slowed for the first time since its massive breakout to new all-time highs, suggesting the potential for a bearish reversal.

“Capital flows into the network was very flat the last three days. This is an unusual lull in buying on our run from $75,000 to $112,000.”

Bitcoin is trading for $107,948 at time of writing, down 1.1% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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An analyst known for riding the 2023 crypto breakout believes that Bitcoin’s current consolidation will end with BTC bulls taking a victory lap.

In a strategy session, pseudonymous analyst DonAlt tells his 65,700 YouTube subscribers that BTC bears had many chances to drive prices lower in the past weeks after President Donald Trump restarted trade war talks and considered acquiring other countries.

According to the crypto strategist, any of those headlines could have catalyzed a deeper Bitcoin correction. But DonAlt says the fact that BTC is still trading above $90,000 despite an onslaught of bearish news makes him believe that Bitcoin is gearing up for much higher prices.

“I’m not bearish. My gut feeling is that this resolves to the upside, but I also acknowledge that as long as we’re trading below $101,000 or below the weekly mid-range [around $98,000], TA (technical analysis)-wise slightly leaning bearish.

I just don’t necessarily think it’s very conclusive, especially given how strong the uptrend has been and how weak the sell-off has been considering that Trump has basically been throwing around tariffs, been talking about annexing Canada [and] Greenland…

You can make a list and if you threw any of these items on that list at me two or three years ago, and you asked me, ‘Hey, how are markets looking?’ I’d be like ‘Everything is dead, you know.’ 

[But] then nothing has happened. It’s barely led to any sell-off, so it’s hard for me to be too bearish. I think just generally, it makes sense to be either neutral and wait for the momentum or be bullish even though the TA is not necessarily too bullish right now.”

At time of writing, Bitcoin is trading for $96,310, down 1.43% in the past day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney