BlackRock&#8217;s crypto move amid market volatility highlights institutional 
interest and potential stabilization effects on digital asset markets.
The post BlackRock sends $181 million in Bitcoin, Ether to Coinbase amid 
crypto sell-off appeared first on Crypto Briefing.

BlackRock sends $181 million in Bitcoin, Ether to Coinbase amid crypto sell-off

Bitcoin fell to its lowest level in over two weeks as traders adopted a more 
cautious stance after the year’s biggest options expiration, Bloomberg 
reported. At the moment of writing, BTC trades for the highs $66k. Related 
Reading: GameStop Didn’t Sell Bitcoin — What It Did Instead Will Anger BTC 
Maxis Bitcoin Options Market Turns Defensive The drop followed the largest 
Bitcoin options expiry of 2026 so far, with roughly $14 billion in notional 
contracts rolling off on Friday. Around 30–40% of open interest in front‑month 
Bitcoin options was wiped out in a single session, leaving a “cleaner” 
positioning landscape. Spot volumes picked up versus the previous session 
(e.g. +10–20%), suggesting the move was driven by more than just options 
mechanics. Positioning shows traders are bracing for a drawn‑out conflict, 
Griffin Ardern, co‑founder of multi‑asset manager Primal Fund, said. The risk 
of stagflation, and even “forced rate hikes” has sharply deepened bearish 
sentiment. Post‑expiry, more people were buying protection than betting on 
upside. Options flows skewed toward puts, with put volumes outpacing calls: 
over the past 24 hours, the put/call ratio has climbed to 1.3, signaling that 
traders are loading up on downside protection as they head into the weekend. 
Derivatives Positions Hold The Key According to Fortune, market participants 
view derivatives positioning going a long way toward explaining the recent 
still. James Harris, CEO of asset manager Tesseract, believes institutional 
players spent much of the first quarter selling upside calls, essentially 
betting that prices wouldn’t rip higher, to harvest premium in a quiet market. 
That flow pushed risk onto market makers, who in turn have been buying dips 
and fading rallies to keep their books roughly hedged. Traders say this setup 
has effectively smoothed out volatility, with Bitcoin’s price repeatedly 
drifting back toward the so‑called “max pain” zone around $75,000, where the 
most options expire worthless. In practice, those hedging flows have worked 
like a magnet, pulling BTC higher on dips but also putting a lid on how far 
rallies can run. Related Reading: Bitcoin Rangebound At $70K While Macro 
Cracks Deepen – Why Analyst Says It’s Too Early To Call A Bottom What Traders 
Should Look For Next The shift in positioning comes after a powerful Q1 run, 
with Bitcoin still up double‑digit % year‑to‑date even after the latest 
pullback. If defensive positioning in options persists (elevated put/call, 
negative skew, higher near‑term IV), it may signal traders are bracing for 
another leg lower rather than a quick “buy‑the‑dip” rebound. For active 
traders, the setup favors disciplined risk management: tighter stops on 
leveraged longs, selective hedging via short‑dated puts, and watching whether 
defensiveness eases or intensifies into the next major macro/data catalyst. At 
the moment of writing, BTC’s price has crashed under $67k. Source: BTCUSD on 
Tradingview Cover image from Perplexity, BTCUSD chart from Tradingview

Bitcoin Slumps As Traders Turn Defensive: Options Market Flashes Red Warning Signal

ICE invested another $600 million in Polymarket, bringing its total commitment 
to $2 billion as prediction markets grow.

NYSE parent invests $600M more in Polymarket

Bitcoin plunged below $66,300 for the first time since early March, driven by 
geopolitical uncertainty around U.S. policy in the Middle East and the 
expiration of $14.16 billion in options contracts on Deribit. Options Expiry 
Bitcoin (BTC) fractured a key psychological floor Friday, plunging below the 
$67,000 mark for the first time since March 9. […]

Bitcoin Drops Below $67,000 as Geopolitical Tensions and $14B Options Expiry Weigh on Markets

Intercontinental Exchange (ICE) has completed a new $600 million direct cash 
investment in Polymarket, fulfilling the final obligations of a structured 
investment program the NYSE operator announced in October 2025. ICE and 
Polymarket The owner of the New York Stock Exchange (NYSE), ICE, disclosed the 
transaction on Friday morning. The company also expects to purchase […]

Cryptocurrency price in MMK