Summary
TLDR: Bitcoin hit a new all-time high above $69,000 before crashing below $61,000 on Tuesday. BlackRock’s iShares Bitcoin ETF (IBIT) saw inflows of $778.3 million worth of Bitcoin and added 12,447.3 BTC at an average price of $62,500. BlackRock is leading the charge for spot Bitcoin exchange-traded funds in the US, with their ETF seeing $3.75 billion worth of trading volume on Tuesday. All 10 spot Bitcoin ETFs in the US collectively saw a record $10 billion worth of volume on Tuesday, according to Bloomberg analyst Eric Balchunas.
Key Points
1. BlackRock’s iShares Bitcoin ETF (IBIT) received $778.3 million worth of Bitcoin inflows and added 12,447.3 BTC, indicating a strategic move to buy the dip after a price crash.
2. BlackRock’s Bitcoin ETF saw a significant trading volume of $3.75 billion on Tuesday, setting a new daily record and contributing to the overall $10 billion worth of trading volume among all 10 spot Bitcoin ETFs in the United States.
3. Bitcoin’s price rebounded from recent lows, currently sitting at $67,175, showing resilience and potential for further growth despite the recent volatility in the market.