Donald Trump

Bitcoin

<p>Bitcoin is making headlines as traders believe it might reach a new all-time high within the next week. Currently, Bitcoin (BTC) is on a strong upward trend, consistently staying above $72,000. Adding to the excitement, BlackRock’s iShares Bitcoin Trust (IBIT) reported a remarkable trading volume of $3.36 billion on Tuesday, marking a six-month high and showing increased activity across all Bitcoin ETFs.</p>   
<p>A deeper dive is warranted - won't you agree? Read on! </p>   
<h2 class="wp-block-heading" id="h-blackrock-s-etf-volume-soars-to-3-36-bln">BlackRock’s ETF Volume Soars to $3.36 Bln</h2>   
<p>On Tuesday, Bitcoin exchange-traded funds (ETFs) in the U.S. saw <a href="https://coinpedia.org/news/bitcoin-etfs-recored-a-massive-870-million-inflows-led-by-blackrock-is-80000-next/" target="_blank" rel="noreferrer noopener">total daily net inflows of $870 million</a>—the highest amount since June. A significant portion of this influx came from BlackRock's IBIT ETF, which brought in $642.87 million in net inflows, the largest for IBIT in over seven months. This strong interest from investors raises hopes that Bitcoin may soon reach new heights.</p>   
<p><strong>Market Excitement at New Highs! </strong></p>   
<p>In addition to the inflows, BlackRock's IBIT recorded a trading volume of $3.36 billion on the same day, its highest activity since March. This surge in trading volume is noteworthy, as it often signals increased investor interest, especially when Bitcoin prices are rising.</p>   
<p>Bloomberg analyst Eric Balchunas pointed out that high trading volume usually occurs when prices fall, but this situation might be different. He suggested it could be a sign of "FOMO," or "fear of missing out," with investors rushing to buy Bitcoin as they see its price climbing.</p>   
<h2 class="wp-block-heading" id="h-blackrock-s-growing-role-in-bitcoin">BlackRock’s Growing Role in Bitcoin</h2>   
<p>BlackRock is becoming a big player in the Bitcoin market. CEO Larry Fink shared that IBIT has grown into a $23 billion market in just nine months. This growth is not surprising, especially since BlackRock recently bought more than <a href="https://sosovalue.com/assets/etf/us-btc-spot">$680 million in Bitcoin</a> and is working closely with companies like MicroStrategy that are also strong supporters of Bitcoin.</p>   
<p>As Bitcoin's price climbs, now trading around $72,471, expectations for further increases are rising. Some analysts believe external factors, such as a possible Donald Trump election victory, could boost inflows into Bitcoin, pushing its price even higher.</p>   
<h2 class="wp-block-heading" id="h-ethereum-etfs-gain-traction">Ethereum ETFs Gain Traction</h2>   
<p>While Bitcoin is in the spotlight,<a href="https://coinpedia.org/news/ethereum-to-hit-6000-historic-trend-signals-130-surge-potential/" target="_blank" rel="noreferrer noopener"> Ethereum</a> is also gaining attention. On the same day, Ethereum ETFs in the U.S. recorded $7.65 million in net inflows, with BlackRock's ETHA ETF leading the way, contributing $13.62 million. </p>   
<p>This growing interest in Ethereum shows that investors are exploring options beyond just Bitcoin.</p>   
<p><strong>The future of crypto is bright, and BlackRock's bullish stance is a strong signal. Are you excited?</strong></p>

BlackRock’s IBIT Bitcoin ETF Sees $3.36B Trading Volume Amid Crypto Market Rally

Table of Contents

CoinPedia News

Other articles published on Oct 30, 2024

XRP Death Cross: Effect On Now and Future Prices

BlackRock’s IBIT dominates as spot bitcoin ETFs record $870 million in daily inflows, largest sin...

Ripple Price Analysis: How Low Can XRP Go if it Loses the $0.5 Support?

Shiba Inu NFT Bridge Launches on Shibarium — SHIB Price Poised for Growth?

SHIB Soars 436% in Burn Rate As Shytoshi Kusama Makes Epic Statement

Russia bans state-level crypto mining in regions with energy shortage

Join our free newsletter for daily crypto updates!