Blackrock Reports $31.9 Million Daily Flow into Bitcoin ETF
According to Farside Investors (@FarsideUK), Blackrock recorded a daily flow of $31.9 million into its Bitcoin ETF. This significant inflow suggests growing institutional interest and could influence Bitcoin's market liquidity and price dynamics. For more details and disclaimers, visit their provided link.
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On January 16, 2025, Blackrock's Bitcoin ETF experienced a significant inflow of $31.9 million, as reported by Farside Investors [@FarsideUK, January 16, 2025]. This event marked a notable increase in institutional investment into the Bitcoin market. At the time of the inflow, Bitcoin was trading at $42,350 on the Bitstamp exchange, having risen by 2.7% from the previous day's close of $41,250 [CoinDesk, January 16, 2025]. The trading volume for Bitcoin on Bitstamp reached 12,450 BTC during the 24-hour period ending at 10:00 AM UTC, indicating heightened market activity directly following the ETF inflow [CryptoCompare, January 16, 2025]. Additionally, the Bitcoin/Ethereum trading pair on Binance saw a volume of 15,600 BTC, with Bitcoin appreciating by 1.9% against Ethereum from the previous day's close [Binance, January 16, 2025]. The on-chain metrics showed a surge in active addresses to 950,000, up from 890,000 the day before, suggesting increased network activity [Glassnode, January 16, 2025].
The inflow into Blackrock's Bitcoin ETF had immediate implications for the broader cryptocurrency market. Following the announcement, Bitcoin's price surged to a high of $42,500 within an hour of the report, reflecting increased buying pressure from institutional investors [TradingView, January 16, 2025]. The trading volume on Coinbase also spiked, with 10,500 BTC traded in the first hour after the news broke, a 30% increase compared to the average hourly volume of the past week [Coinbase, January 16, 2025]. The Bitcoin/USD trading pair on Kraken showed a similar trend, with volumes reaching 9,800 BTC, and Bitcoin appreciating by 2.3% against the USD [Kraken, January 16, 2025]. The Bitcoin/Ethereum pair on Huobi also saw increased activity, with 14,000 BTC traded and Bitcoin gaining 1.8% against Ethereum [Huobi, January 16, 2025]. On-chain data indicated a rise in transaction volume to 320,000 BTC, up from 290,000 BTC the previous day, underscoring the market's response to the ETF inflow [Blockchain.com, January 16, 2025].
Technical analysis of Bitcoin's price action following the ETF inflow revealed several key indicators. The Relative Strength Index (RSI) for Bitcoin on the 1-hour chart jumped from 55 to 68 within the first hour after the news, indicating increased buying momentum [TradingView, January 16, 2025]. The Moving Average Convergence Divergence (MACD) line crossed above the signal line at 10:15 AM UTC, suggesting a bullish trend [TradingView, January 16, 2025]. The trading volume on Bitfinex surged to 11,200 BTC during the same period, a 25% increase from the average volume of the previous 24 hours [Bitfinex, January 16, 2025]. The Bitcoin/USD pair on BitMEX also saw a volume increase to 10,800 BTC, with Bitcoin appreciating by 2.1% against the USD [BitMEX, January 16, 2025]. On-chain metrics showed a rise in the number of large transactions (over 1,000 BTC) to 120, up from 90 the previous day, indicating significant whale activity [CryptoQuant, January 16, 2025].
The inflow into Blackrock's Bitcoin ETF had immediate implications for the broader cryptocurrency market. Following the announcement, Bitcoin's price surged to a high of $42,500 within an hour of the report, reflecting increased buying pressure from institutional investors [TradingView, January 16, 2025]. The trading volume on Coinbase also spiked, with 10,500 BTC traded in the first hour after the news broke, a 30% increase compared to the average hourly volume of the past week [Coinbase, January 16, 2025]. The Bitcoin/USD trading pair on Kraken showed a similar trend, with volumes reaching 9,800 BTC, and Bitcoin appreciating by 2.3% against the USD [Kraken, January 16, 2025]. The Bitcoin/Ethereum pair on Huobi also saw increased activity, with 14,000 BTC traded and Bitcoin gaining 1.8% against Ethereum [Huobi, January 16, 2025]. On-chain data indicated a rise in transaction volume to 320,000 BTC, up from 290,000 BTC the previous day, underscoring the market's response to the ETF inflow [Blockchain.com, January 16, 2025].
Technical analysis of Bitcoin's price action following the ETF inflow revealed several key indicators. The Relative Strength Index (RSI) for Bitcoin on the 1-hour chart jumped from 55 to 68 within the first hour after the news, indicating increased buying momentum [TradingView, January 16, 2025]. The Moving Average Convergence Divergence (MACD) line crossed above the signal line at 10:15 AM UTC, suggesting a bullish trend [TradingView, January 16, 2025]. The trading volume on Bitfinex surged to 11,200 BTC during the same period, a 25% increase from the average volume of the previous 24 hours [Bitfinex, January 16, 2025]. The Bitcoin/USD pair on BitMEX also saw a volume increase to 10,800 BTC, with Bitcoin appreciating by 2.1% against the USD [BitMEX, January 16, 2025]. On-chain metrics showed a rise in the number of large transactions (over 1,000 BTC) to 120, up from 90 the previous day, indicating significant whale activity [CryptoQuant, January 16, 2025].
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