BlackRock's IBIT Records 18 Days of Consecuite Inflows
Analysis
Price Impact
MedBlackrock's ibit etf experiencing consecutive inflows indicates strong institutional interest in bitcoin, generally leading to positive price pressure. however, gbtc outflows partially offset this.
Trustworthiness
HighThe information is based on reported etf flows and market data, which are generally reliable sources.
Price Direction
BullishContinuous inflows into bitcoin etfs, particularly blackrock's ibit, suggest sustained buying pressure. combined with bitcoin approaching its all-time high, the overall sentiment points towards further price appreciation.
Time Effect
ShortThe effect is likely short-term as etf flows can change rapidly depending on market conditions and investor sentiment.
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Article Content:
Cover image via www.freepik.com Read U.TODAY on Google News BlackRock's flagship iShares Bitcoin Trust ETF (IBIT) has now had 18 consecutive days of positive flows. Advertisement The product saw $69 million worth of inflows on Thursday. IBIT's net assets are now approaching a whopping $63 billion. Overall, Bitcoin ETFs were in the green with $117 million worth of inflows. HOT Stories Ripple CEO Calls for Clear Stablecoin Rules Bitcoin (BTC): $100,000 Finally Here, This XRP Level Can Send Price to $3, Massive Shiba Inu (SHIB) Bounce: Bull Run Begins? 824,473,127 XRP in 24 Hours: Bulls Are Back Ripple-Linked XRP Lobbyist Behind Truth Social Post Purged from White House Grayscale's GBTC is the only product in the red with $23 million in outflows. Advertisement Meanwhile, the Bitcoin price is now inching closer to a new record high, currently trading at $103,633 on the Bitstamp exchange. Notably, the leading cryptocurrency is now less than 5% from setting a new record high. Bitcoin's current lifetime price peak of nearly $109,000 was achieved in late January. #Bitcoin News #BlackRock #Bicoin ETF