• 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

6 hours 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

Bitcoin Reaches Historic $100,000 Level: Can the Market Sustain Its Growth

The cryptocurrency surpasses $100,000. Can it hold its position with high demand, or will it face selling pressure?

user avatar

a minute ago

Bitcoin Reaches Historic $100,000 Mark Amid Hopes for Crypto Policies

Bitcoin crosses $100,000, reflecting broader cryptocurrency adoption and changes in global finance.

user avatar

3 minutes ago

Bitcoin Reaches New Heights at $100,000

Bitcoin has surpassed the $100,000 mark for the first time, showcasing growth amidst regulatory changes.

user avatar

3 minutes ago

Justin Drake Proposes Enhancing Ethereum Security with Beam Chain

Beam Chain aims at improving Ethereum's long-term security, distinct from competitors.

user avatar

4 minutes ago

BTFD Coin, Floki Inu, and Shiba Inu — Top Meme Coins of December 2024

BTFD Coin, Floki Inu, and Shiba Inu are the main meme coins of December 2024, drawing investor attention.

user avatar

29 minutes ago

Crypto Startups on Top: One-Third of Forbes 30 Under 30 List From the Crypto Sector

Young leaders in North America's crypto industry take up a significant portion of Forbes' 30 Under 30 in Finance for 2025.

user avatar

29 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.