As panic gripped the crypto market following the U.S. President Donald Trump's surprise announcement of 100% tariffs on Chinese imports, one major player made a bold move: BlackRock quietly bought $74.2 million worth of Bitcoin while the market was deep in red.

Source: X
According to ETF flow data, BlackRock Bitcoin Buy place it as the only issuer to record inflows, scooping up the asset on the same day prices dropped shapely. In total, U.S. spot BTC ETFs saw $4.5 million in net outflows, ending a two-week streak of steady inflows.
“You see a -7% red candle. They see an opportunity,” one analyst wrote, highlighting how institutional whales accumulate during panic.
The picture was different for Ether. On the same day, Ethereum spot ETFs saw $175 million in total net outflows, with all nine funds recording no inflows. BlackRock’s ETHA led the withdrawals with $80.19 million, as many institutional investors reduced exposure during the sharp market-fall.
This shows a clear trend: while some institutions moved out of Ethereum positions to manage risk, others, like BlackRock, shifted toward BTC as a safer asset during the volatility.
The heavy ETF flows came during a historic market crash caused by Trump’s tariff announcement on China from November 1. The move intensified existing trader frictions after China announced export restrictions on rare earth minerals.
Bitcoin dropped 7.75% to around $112,542, with trading volumes jumping 145% to $183.88B.
Ethereum fell more than 11% to $3,878.
Over $19 billion in leveraged positions were wiped out in 24 hours, the largest liquidation event in crypto history.

The overall crypto market cap fell from $4.3 trillion to $3.75 trillion, showing just how severe the sell-off was.
When the tariff news broke, many retail traders reacted with panic, selling their crypto quickly. This rush to sell caused a chain reaction of forced liquidations across the marketplace.
In contrast, big institutional investors took a more strategic approach. They reduced their ethereum holdings, shifted some of their money into bitcoin, and used ETHs to make these moves efficiently and in large amounts.
Now, analysts are keeping a close eye on bitcoin’s $100,000 support level. If large investors keep buying, it could help steady the marketplace. But if BTC falls below this level, it might lead to a deeper and longer market downturn.
Bhumika Baghel is a rising crypto content writer with a deepening interest in blockchain technology and digital finance. With a keen understanding of market trends and cryptocurrency ecosystems, she breaks down intricate subjects like Bitcoin, altcoins, DeFi, and NFTs into accessible and engaging content. Bhumika blends well-researched insights with a clear, concise writing style that resonates with both newcomers and experienced crypto enthusiasts. Committed to tracking price fluctuations, new project developments, and regulatory shifts, she ensures her readers stay informed in the fast-moving world of crypto. Bhumika is a strong advocate of blockchain’s potential to drive innovation and promote financial inclusion on a global scale.