• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

BlackRock Buys $1 Billion in Bitcoin: The Rally Continues

user avatar

by

a day ago


Bitcoin, the world's largest digital asset by market capitalization, is witnessing a shift in sentiment toward growth. BlackRock, the world's largest asset manager, has acquired a significant amount of Bitcoin.

Major Purchases Boost Bitcoin Interest

On December 4, 2024, Arkham reported that BlackRock purchased Bitcoin worth $1 billion over the past three days. This is part of a broader pattern where companies from various industries invest in cryptocurrency, potentially signaling an accumulation phase.

Bitcoin Outflow from Exchanges

Since December 1, 2024, cryptocurrency exchanges have seen a significant outflow of Bitcoin totaling $963.35 million, as reported by Coinglass. Outflow typically indicates asset movement from exchanges to wallets, signaling purchase, decreased selling pressure, and potential price rally.

Bitcoin Technical Analysis and Prospects

Experts are optimistic about Bitcoin's outlook. According to technical analysis, BTC has broken a symmetrical triangle pattern on the four-hour timeframe and is heading towards $100,000. If BTC closes a four-hour candle above $98,000, reaching a new all-time high of $100,000 is probable.

Bitcoin's rally continues with institutional purchases and asset outflows from exchanges. Technical indicators suggest potential new highs in the near future.

0

Share

Other news

Robot Musk: New Solana Meme Coin Set for Growth

The Robot Musk meme coin on Solana is preparing for exchange listings, which may lead to price increases.

user avatar

16 minutes ago

Render, Stellar, and Qubetics: Current Cryptocurrency Trends

Analysis of current cryptocurrency market trends, featuring Render and Stellar, and exploring Qubetics' prospects.

user avatar

18 minutes ago

Altcoin Prices and Investor Expectations: What's Behind the Disappointment?

The cryptocurrency market faces investor disappointment as altcoins fail to meet expectations in the bullish trend.

user avatar

19 minutes ago

Key Aspects of Cryptocurrency Regulation in the USA

Learn about the roles of key agencies like the SEC and CFTC in cryptocurrency regulation in the USA and recent changes in this sphere.

user avatar

21 minutes ago

Analyzing Dogecoin and Propichain Trends in the Crypto World

Dogecoin and Propichain attract attention with growth predictions and new opportunities in real estate.

user avatar

an hour ago

Bitcoin Surpasses $100,000: A Historic Milestone in the Crypto Market

Bitcoin has surpassed the $100,000 mark, marking a historic event for the crypto market after a year of remarkable growth.

user avatar

an hour ago

dapp expert logo
© 2020-2024. DappExpert. All rights reserved.
© 2020-2024. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.