• 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 A1

6 days 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

Magic Eden Now Available on Upbit for Trading in KRW, BTC, and USDT

Upbit launches Magic Eden (ME) trading in KRW, BTC, and USDT. Learn details of the listing and transaction limitations.

user avatarA1

18 minutes ago

Top Coins of the Week: Qubetics, Chainlink, and Helium

Review of Qubetics, Chainlink, and Helium: innovations and growth potential in the cryptocurrency market

user avatarA1

18 minutes ago

Microsoft and Amazon's Bitcoin Investments: What's Next for the Market?

Microsoft and Amazon's Bitcoin investments could sway the market, possibly leading to stock and crypto price rises or falls.

user avatarA1

20 minutes ago

Worldcoin Decline: Coin Experiences Over 18% Slump

Worldcoin loses over 18%, trade remains active. Trading volume surges by 230% amid declining price.

user avatarA1

21 minutes ago

How Political Instability in South Korea is Reshaping Investment Strategies

South Koreans seek alternative investments amid political instability.

user avatarA1

21 minutes ago

XRP sees a 20% drop, but bullish signals emerge

XRP faces volatility, yet market forecasts potential growth after a 20% drop.

user avatarA1

22 minutes 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.