Bitcoin ETF

Bitcoin

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrocks-bitcoin-etf-gains-substantial-btc-supply/" data-wpel-link="internal">BlackRock’s Bitcoin ETF Gains Substantial BTC Supply</a><br></p>
<p style="text-align: justify">BlackRock’s <a href="https://en.coin-turk.com/peter-brandt-shares-bitcoins-all-time-high-predictions-ath-of-70000-targeted/" data-wpel-link="internal">Bitcoin</a> ETF (IBIT) is acquiring a significant supply of <a href="https://en.coin-turk.com/bitcoins-wikipedia-page-hits-highest-number-of-views-in-1-5-years/" data-wpel-link="internal">BTC</a>, with daily inflows exceeding hundreds of millions of dollars. As of the current position, IBIT’s Bitcoin assets have surpassed 200,000, placing them on the same level as MicroStrategy. Over the last 60 days, BlackRock’s ETF IBIT has made significant progress in accumulating approximately 200,000 Bitcoins. This represents a substantial portion, equivalent to 10% of the total Bitcoin supply available across all exchanges.</p> 
<h2 id="blackrock-s-btc-accumulation">BlackRock’s BTC Accumulation</h2> 
<p style="text-align: justify">The accumulation in BlackRock’s ETF leads to speculation about how many additional 60-day periods will be needed for the institution to acquire another 10% of the current Bitcoin supply. Analysts are closely watching this development, as continued Bitcoin accumulation by institutional investors like BlackRock could potentially trigger a parabolic increase in Bitcoin prices.</p> 
<p style="text-align: justify">The significant inflow of Bitcoin into IBIT highlights the growing institutional interest in cryptocurrency assets and their perceived value as a hedge against traditional market uncertainties. Although BlackRock’s Bitcoin assets are at the same level as MicroStrategy’s, some crypto community members note that MicroStrategy holds its Bitcoin accumulation outright, while BlackRock holds it on behalf of clients. Meanwhile, MicroStrategy continues to increase its Bitcoin holdings with its latest offer to raise an additional $500 million through convertible notes.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-327308 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ibit.jpg" alt="" width="1220" height="705"></p> 
<h2 id="analyst-commentary-on-btc">Analyst Commentary on BTC</h2> 
<p style="text-align: justify">Popular crypto analyst Ali Martinez is researching historical trends surrounding Bitcoin halving events and shedding light on the time intervals between halvings and subsequent market peaks. Martinez’s analysis reveals that Bitcoin reached its peak 367 days after the 2012 halving. Following the 2016 halving, Bitcoin ascended to the market’s peak within 526 days.</p> 
<p style="text-align: justify">It took 547 days for Bitcoin to reach its peak after the most recent halving in 2020. Based on historical data, Ali Martinez suggests that despite possible minor volatility in price, the observed patterns indicate that the potential Bitcoin market peak is still at a significant distance. According to Bitcoin analyst Willy Woo, daily inflows to Bitcoin are represented in visualizations with a 7-day average. Willy Woo also suggests that despite ETFs being in the early stages, it may take several months for institutions and asset management platforms to complete their due diligence before initiating proper allocation.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/blackrocks-bitcoin-etf-gains-substantial-btc-supply/" data-wpel-link="internal">BlackRock’s Bitcoin ETF Gains Substantial BTC Supply</a></h5>

BlackRock’s Bitcoin ETF Gains Substantial BTC Supply

Table of Contents

COINTURK NEWS

Other articles published on Mar 14, 2024

Giant Analysis Firm Announces That It Expects a Correction in Bitcoin! It Indicated a Fall to The...

Crypto custody firm Bakkt faces delisting if shares stay under $1

Syntropy Secures Fresh Funding to Build Out Its Web3 Data Layer (14 Mar)

Bitcoin ETFs shatter records with 14,261 BTC bought in a single day, setting stage for price surge

Ripple's Legal Fight with SEC Gears Up with New Deadlines

Analyzing the Phenomenon: What Makes Bitgert Coin the Ultimate Top Altcoin?

Join our free newsletter for daily crypto updates!