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BlackRock Has Purchased $1.5 Billion Bitcoin Since May 1, 2025
By: cryptosheadlines|2025/05/07 10:45:01
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com BlackRock’s IBIT Bitcoin (BTC) ETF has been on a buying spree since late April. According to Farside Investors, the world’s largest asset manager has purchased $1.5 billion worth of BTC since May 1. BlackRock has bought a total of $4.45 billion worth of the asset since Apr. 21.Also Read: Buffett Chooses This Foreign Currency Over U.S. Dollar to Fund 5 Major InvestmentsSource: Farside InvestorsBitcoin Faces Correction Despite BlackRock’s Big PurchasesSource: Watcher GuruBlackRock’s big BTC purchases align with the asset’s recent climb to the $97,000 mark. The asset is facing substantial resistance at $97,000. While the rally was welcomed, BTC has faced a slight price correction today. BTC has fallen to the $93,000 mark, down 0.3% in the daily charts and 1.1% over the previous week. Despite the dip, BTC has rallied 5.9% in the 14-day charts, 13.2% over the previous month, and 46.3% since May 2024.Source: CoinGeckoAlso Read: De-Dollarization: Why 2025 Could Be the Year the Dollar Loses Its Global DominanceThe recent market resurgence was likely due to an increase in institutional investments. Retail investors have likely not participated much in the rally.Bitcoin’s latest dip could be due to Florida withdrawing two of its crypto reserve bills. The move came as a setback to crypto advocates and investors.Will The Asset Rally Soon?There is a chance that the Federal Reserve will drop interest rates soon. Inflation in the US has cooled more than anticipated. President Trump has also pushed for interest rate cuts. A rate cut could lead to a surge in risky investments. Bitcoin (BTC) and the larger crypto market may benefit from such a development.Also Read: VeChain On The Verge Of Overtaking Trump Coin: Here’s WhenA spike in retail investors could also push BTC past the $97,000 mark. The original crypto could reclaim $100,000 if it breaks its current resistance level. Breaching $100,000 could push BTC to a new all-time high. The asset is currently down by 13.7% from its peak of $108,786.Source link
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