Bitcoin: Whales Sell $12.2M at a Loss as BlackRock Signals Long-Term Bullish Stance

The BTC market is currently navigating a complex landscape characterized by significant institutional interest and adoption, juxtaposed with notable selling pressure from large holders and mixed regulatory signals. BlackRock's evolving stance and sovereign fund BTC accumulation highlight a long-term bullish narrative, while on-chain data reveals substantial loss-cutting by whales. Derivatives markets show a bullish bias with positive funding rates, yet price action indicates resistance at key levels, suggesting a cautious sentiment despite the underlying institutional momentum.