• 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

3 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

The New Gay Musk Memecoin May Offer High Returns

Gay Musk, a memecoin on the Solana blockchain, promises significant growth in the coming days.

user avatar

7 minutes ago

Cryptocurrencies Arbitrum and Aave Show Strong Growth

Arbitrum and Aave demonstrate robust growth as Bitcoin dominance declines. Significant breakouts possible.

user avatar

7 minutes ago

PEPE's Surge: Can It Overtake Shiba Inu by the End of 2024?

PEPE reached a new ATH, but can it surpass Shiba Inu in market capitalization?

user avatar

8 minutes ago

Success Story: From $70 to $7 Million on PEPE

An investor made $7M from $70 with PEPE tokens. Learn about the process and the inherent market risks.

user avatar

8 minutes ago

How an Investor Turned $70 into $7 Million with PEPE

Discover how an investor made millions by investing just $70 in the PEPE token, illustrating the possibilities and risks of cryptocurrency investments.

user avatar

9 minutes ago

XRP as a Potential Solution for U.S. National Debt

The analyst proposes using XRP to address U.S. economic challenges as an alternative to traditional financial tools.

user avatar

35 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.