Is BlackRock Manipulating Bitcoin Prices? What an Expert Has to Say

Cryptocurrency analyst Daan de Rover, also known as Crypto Rover, claims that asset manager BlackRock is deliberately pushing down the price of Bitcoin. According to Rover, this strategy aims to secure a more favorable buying position if the company obtains approval to launch its Bitcoin spot ETF. Rover supports his theory by arguing that if BlackRock receives approval for a Bitcoin spot ETF, they will need to have actual Bitcoin to back the fund. In this scenario, he presents two perspectives. “First, they may have already acquired Bitcoin months ago when prices were lower. The second possibility is that BlackRock is deliberately reducing prices to establish a more advantageous buying position for themselves,” he said. Rover bets on the second option, arguing that if BlackRock had already bought Bitcoin previously, they would be interested in keeping prices high. After all, a price increase, possibly driven by the approval of a Bitcoin ETF, would yield them more value compared to the original purchase price. Crypto Rover is known for his work in helping investors understand the cryptocurrency market, providing free educational content that covers everything from basic investment concepts to advanced technical analysis.

Pressure on Bitcoin

According to Bitcoin writer Mark Helfman, institutional investors rarely buy BTC directly to avoid legal and regulatory risks. Instead, they use custody solutions to hide their activities. These transactions occur outside of exchanges at an agreed-upon price, different from the spot price indicated on the exchange. As Bitcoin is pseudonymous and new wallets can be created endlessly, it is difficult to know who is moving money where unless forensic technology or an informant is involved. As a result, these buys and sells often go unnoticed on a chart since they only purchase the necessary amount to avoid disturbing the price.

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