According to Cas Abbé, Bitcoin's recent rally is being driven by significant institutional demand, as BlackRock purchased $356 million worth of BTC while Goldman Sachs disclosed holdings of $1.4 billion in BTC through ETFs. This substantial capital inflow from major financial institutions, combined with continued accumulation by individual whales, is contributing to heightened upward momentum for BTC. Traders are closely monitoring these large-scale investments, as they signal strong market confidence and may impact short-term and long-term price action. Source: @cas_abbe on Twitter, May 10, 2025.

According to Cas Abbé on Twitter, BlackRock purchased 5,600 BTC worth $531 million yesterday, while Fidelity, Bitwise, and Grayscale were selling their holdings (source: Cas Abbé, May 6, 2025). Despite this large acquisition, the Bitcoin price did not spike because BlackRock executed the trade primarily through over-the-counter (OTC) channels, which do not directly impact spot market prices. Traders should monitor OTC activity and potential future supply crunches, as these large institutional moves could have delayed effects on Bitcoin market liquidity and price action.