• 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

Shiba Loves Trump: Growth Expectations and Investor Prospects

Memecoin Shiba Loves Trump promises significant price growth and high returns for investors.

user avatar

14 minutes ago

Best Crypto Staking Platforms 2024: Review and Comparison

A look into crypto staking platforms like Keynode, Binance, and Coinbase to earn passive income in 2024.

user avatar

14 minutes ago

XYZVerse Coins and Their Long-Term Success Potential

XYZVerse offers investors long-term growth potential in the current crypto cycle by merging sports and memes.

user avatar

14 minutes ago

Dogecoin and Phantom Wallet: Possible Extension of DOGE Support

Dogecoin user Mishaboar urged Phantom Wallet to support DOGE, enhancing Solana-Dogecoin connection.

user avatar

15 minutes ago

Best Cryptocurrencies to Invest in December 2024

20 altcoins with strong potential for investment in December 2024, featuring XRP, Bitcoin, and Dogecoin.

user avatar

42 minutes ago

US imposes new sanctions on China in the semiconductor sector

The US restricts semiconductor exports to China, intensifying the technological conflict.

user avatar

42 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.