BlackRock’s Bold Bitcoin Bet: $2.8 Billion Surge Signals Growing Institutional Confidence
Massive inflows into BlackRock’s Bitcoin ETF could push BTC toward historic highs.
BlackRock’s iShares Bitcoin Trust (IBIT) is making waves once again, reporting a staggering $240.1 million daily inflow, according to fresh data from Farside.
In just the past five trading days, U.S. spot Bitcoin ETFs have raked in approximately $2.8 billion in net inflows, propelling Bitcoin’s price from $85,000 to nearly $94,000. Remarkably, BlackRock’s IBIT alone accounted for $1.3 billion of that figure, solidifying its growing dominance in the institutional crypto market.
IBIT Wins “Best New ETF” Amid Market Volatility
Adding to the momentum, IBIT was crowned “Best New ETF” at the annual etf.com awards on April 23.
The accolade highlights BlackRock’s ability to attract investor trust even amid heightened market volatility, underscoring Bitcoin’s rising appeal as a mainstream asset class.
“The ETFs are on a Bitcoin bender,” quipped ETF analyst Nate Geraci, noting the extraordinary influx of capital.
Bitcoin’s New Support Level Emerges at $90,000
On the technical front, market analysis from CryptoQuant points to a new $90,000 support level for Bitcoin.
The report noted a sharp rise in “apparent demand,” measured by activity in the one-year inactive Bitcoin supply, suggesting dormant capital is flowing back into the market.
After months of cooling investor sentiment and selling pressure, buying interest has rebounded aggressively, further reinforcing the bullish case for Bitcoin.
Technicals Favor the Bulls as Bitcoin Eyes $100,000
Bitcoin’s 20-day exponential moving average (EMA), currently at $87,437, continues to trend upward.
Meanwhile, the Relative Strength Index (RSI) hovers close to the overbought zone, signaling strong bullish momentum.
Bears are likely to challenge Bitcoin near the $100,000 resistance level, but if the price holds above $95,000, analysts predict a breakout could be imminent.
At the time of writing, Bitcoin trades around $94,200, with global markets watching intently for its next major move.
Final Thoughts: BlackRock’s Bitcoin Confidence Could Shape the Next Bull Run
BlackRock’s continued bet on Bitcoin — backed by record-breaking ETF inflows and technical strength — is a loud signal to investors everywhere:
Institutional confidence in Bitcoin is stronger than ever, and a major market breakout may only be a matter of time.
