BlackRock’s Bitcoin ETF Sees Inflows Exceeding $40 Billion
BlackRock reports increased investor optimism in its IBIT fund.
- IBIT saw inflows of $643.2 million and a daily trading volume of $3.2 billion on April 23.
- Total net inflows for IBIT reached $40.6 billion.
- BlackRock currently holds 573,715 BTC worth $53.2 billion.
- The crypto market cap peaked at $2.94 trillion, indicating potential bullish trends.
- US-based spot BTC ETFs recorded a net inflow of $917 million, totaling $37.6 billion.
- Spot Ethereum ETFs faced a net outflow of $23.9 million, influenced by a $30.3 million selloff from BlackRock.
Mild Correction Observed
- Bitcoin is currently priced at $92,500 with a market cap of $1.83 trillion.
- Previous highs above $94,000 helped Bitcoin surpass the market values of silver and Amazon.
- A correction is typical after strong upward momentum, as short-term traders seek gains.
- Maintaining the $90,000 mark is crucial; falling below may lead to further selloff, possibly to $80,000 or lower.