• 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

2 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

PEPE Cryptocurrency: Investments and Market Analysis

An early PEPE investor turned $70.4 into millions. Large deposits may shift market trends.

user avatar

14 minutes ago

Bitcoin: Current Price Fluctuations After Hitting $100k

An overview of the current Bitcoin price fluctuations after reaching $100k and its impact on the market.

user avatar

15 minutes ago

Dogecoin and its New Price Milestone: Market Analysis

Dogecoin nears a new pricing level as the crypto community eyes a smaller token with significant growth potential.

user avatar

15 minutes ago

Ocelex Debuts on Zircuit Platform: An Essential Step for the DeFi Community

Ocelex launches on Zircuit, bringing innovations to DeFi with transparent revenue sharing among holders.

user avatar

16 minutes ago

Tomi Super App: Uniting Communication and Crypto Payments in One Application

Tomi launches Super App: communication, crypto payments, and profile management are unified in one platform in Web3 for the first time.

user avatar

16 minutes ago

Worksport incorporates Bitcoin and XRP into corporate treasury

US-based Worksport adds Bitcoin and XRP to its corporate treasury, bolstering its growth strategy.

user avatar

17 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.