In a significant move, BlackRock has recently increased its holdings in Bitcoin ETFs, adding 3,894 Bitcoins to its portfolio on June 5th. This acquisition, valued at approximately $276.19 million, brings BlackRock’s total Bitcoin holdings to an impressive 295,457 BTC, valued at an estimated $20.95 billion. This bold step underscores the growing confidence among institutional investors in Bitcoin's long-term potential as an investment.
Institutional Confidence and Market Implications
BlackRock’s substantial increase in Bitcoin holdings suggests a strong institutional belief in Bitcoin's potential. There are several factors behind this move:
Hedge Against Inflation: With traditional currencies losing purchasing power due to inflation, Bitcoin’s fixed supply makes it an attractive option for preserving value.Positive Regulatory Changes: Clearer guidelines and supportive policies are reducing uncertainties, encouraging more institutional investors to enter the market.
This confidence from a major institutional player like BlackRock could influence the Bitcoin market in several ways. Firstly, it signals to other investors that a significant and reputable entity is bullish on Bitcoin, potentially increasing demand. Secondly, BlackRock’s continued accumulation of Bitcoin without selling could lead to a supply-demand imbalance, driving up prices due to reduced supply.
Bitcoin Call Options Indicate Potential Price Surge
Further reinforcing the bullish sentiment, recent data from Bitcoin call options shows that those expiring in June have exceeded $74,000. According to QCP Capital analysts, there has been robust bullish follow-through, accompanied by substantial Bitcoin option call purchases for June expiries. The concentration of open interest in Bitcoin options at $75,000 for the end of June leads to speculation that many investors are betting on a price rise above $74,000 before July.
Expert Predictions on Bitcoin’s Future Price
Adding to the optimism, several experts have made bold predictions about Bitcoin's future price. Robert Kiyosaki, author of “Rich Dad Poor Dad,” has reaffirmed his prediction that Bitcoin will reach $350,000 by August 2024. He attributes this potential surge to what he perceives as the incompetence of current U.S. leaders and their impact on the crypto market. However, Kiyosaki emphasizes that his prediction is speculative and not a guarantee.
On a different note, analysts at Standard Chartered Bank believe that Bitcoin could not only reach $74,000 but also double to over $150,000 if Donald Trump wins the upcoming election. Trump’s support for crypto and his plans to make the U.S. an innovation hub could lead to more crypto-friendly policies, providing a significant boost to the market and driving further investment in Bitcoin.
Conclusion
BlackRock’s increased Bitcoin ETF holdings highlight a growing institutional confidence in Bitcoin’s potential as a long-term investment. Coupled with bullish signals from Bitcoin call options and optimistic expert predictions, the current consolidation phase could be a precursor to a significant price surge. As the market evolves, Bitcoin continues to attract attention as a hedge against inflation and a promising investment opportunity.
Disclaimer: The information provided in this article is intended for informational purposes only. Cryptocurrency trading involves significant risks, and it is advised to conduct thorough research before making any financial decisions.

#BlackRocks #BlackRock⁩ #BitcoinETFs!

According to Bitcoin Price prediction, Bitcoin surged to a 19-month high above $48,000 following signals from the SEC's official account on X indicating potential approval of the bitcoin ETF.Optimism waned as the bitcoin price rapidly dropped by nearly 6.20%, settling at the $45,000 support level, signaling a compromise of the SEC's account.On the daily chart, bitcoin price initially broke a bullish ascending channel pattern but failed to sustain the breakout, reverting back into the pattern.Despite the setback, BTC Price found support around $45,000 and the 100 Hourly Moving Average, leading to a reversal in its direction.Subsequently, Bitcoin price entered a consolidation phase, awaiting further SEC decision.The future trajectory of BTC's price is contingent on the decision regarding the Bitcoin ETF, introducing uncertainty about whether it will ascend to $50,000 or descend to $40,000 levels.
KEY LEVELS :
RESISTANCE LEVEL : $47,000-$48,300
SUPPORT LEVEL : $44,700-$43,200
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
#BTC #etf #BitcoinETFs! #dyor #crypto2024 @Coingabbar Analysis $BTC

1. Market Slowdown Post Bitcoin ETF Launch:
- The crypto market, excluding Ethereum, experiences a general slowdown following the lackluster launch of the Bitcoin ETF.
2. Ethereum Affiliated Tokens Defying Trends:
- Despite the market sluggishness, tokens associated with Ethereum, such as ENS, Avalanche, and Ethereum Classic, exhibit resilience and promise.
3. ENS Soars with Vitalik Buterin's Endorsement:
- ENS (Ethereum Name Service) records an impressive 183% surge in one month after receiving an endorsement from Vitalik Buterin, indicating potential for further growth beyond the $25 resistance.
4. Avalanche's Remarkable 120% Gain in a Year:
- Avalanche, another Ethereum-affiliated token, showcases a remarkable 120% gain over the last year and is currently setting sights on reaching the $75 mark.
5. Ethereum Classic Emerges as a Top Gainer:
- Ethereum Classic stands out as the second-largest gainer of the week, boasting a 43% increase and potentially aiming for a target of $37.

The cryptocurrency market is currently experiencing significant volatility, particularly noticeable in major players like Bitcoin and Ethereum, which have seen a decline in value over the past week. This dip follows the lackluster debut of spot Bitcoin ETFs in the United States, causing Bitcoin to drop from nearly $50,000 to around $42,000, and Ethereum from $2,700 to approximately $2,500.
Amidst this market turbulence, a distinctive class of cryptocurrencies is demonstrating resilience and potential for substantial price surges. Notably, Ethereum-affiliated tokens such as Avalanche, Ethereum Classic, and ENS are standing out.
ENS Token's Remarkable Surge:
ENS, previously battered during the 2022 crypto winter, experienced an 80% decline in the third quarter of 2023. However, recent developments, including Ethereum co-founder Vitalik Buterin's endorsement, have sparked a remarkable turnaround. ENS has surged by an impressive 183% in the last month, currently testing the $25 resistance. If this level is breached, a potential 53% rally to the $38 zone could be on the horizon.
Avalanche's Potential Rally to $75:
Avalanche, with a robust 120% gain over the last year, has been notably resilient in the face of recent market sluggishness. The announcement of the "Culture Catalyst" initiative, introducing memecoins, contributed to its positive momentum. Despite a recent 8.7% increase, Avalanche's true potential lies in breaking the $49 high. If successful, the next major resistance to watch is around $75, signaling a significant bullish trend.
Ethereum Classic's Strong Performance:
Ethereum Classic has shown remarkable strength, gaining 43% in the last week, making it the second-largest gainer according to CoinMarketCap. Despite a decline from $32, Ethereum Classic is displaying signs of a bullish rebound from its ascending trendline. If this pattern holds, the next resistance point is projected at $37, representing a potential 36% rally from current prices.
Disclaimer: While Voice of Crypto strives for accuracy, readers are urged to conduct their own research and exercise caution due to the highly volatile nature of cryptocurrencies. The information provided is for informational purposes only, and Voice of Crypto is not liable for any missing facts or inaccuracies. Financial decisions should be made independently, considering individual risk tolerance and market conditions.

#crypto2023 #cryptocurrency #BitcoinETFapproved #BitcoinETFs! #BitcoinETF
$BTC

#Write2Earn Spot Bitcoin ETFs saw the third-largest net inflow of $493.3 million amid massive demand. #BTC price breaks above $50,000STORY HIGHLIGHTSSpot Bitcoin #ETFs saw net inflow of $493.3 millionBlackRock (IBIT), Fidelity (FBTC), and Ark 21Shares Bitcoin ETF recorded the largest inflowsOutflows continues from GBTC and Invesco Galaxy #BitcoinETFs! Bitcoin price can hit $55K amid massive demandSpot Bitcoin ETFs saw another massive inflow of $493.3 million on Monday, the third-largest net inflow to date, as $BTC price breaks above $50,000. Experts believe BTC price rally will continue amid demand build-up from Bitcoin ETFs and derivatives traders.Spot Bitcoin ETF Saw $493.3 Million Net InflowThe new nine and Grayscale’s GBTC spot Bitcoin ETF started the week strongly with a $493.3 million net inflow on February 12, according to the latest Bitcoin ETF flow data.BlackRock (IBIT) recorded a record inflow of $374.7 million, with total inflow reaching over $4.126 billion. BlackRock Bitcoin ETF now has asset holdings worth $4.76 billion.Fidelity (FBTC) and Ark 21Shares (ARKB) Bitcoin ETF inflows were $151.9 million and $40 million, respectively. Bitwise (BITB), VanEck (HODL), and others also saw significant inflows. However, Invesco Galaxy Bitcoin ETF (BTCO) witnessed another outflow of $20.8 million.Moreover, GBTC saw a $95 million outflow, an increase from Friday’s 51.8 million outflow, but it is aligned with last week’s range.Thus, the net inflow for spot Bitcoin ETFs, excluding GBTC, was $589 million. The total inflows for BlackRock and Fidelity Wise Origin Bitcoin ETFs are $4.12 billion and $3.15 billion, respectively. The ETFs are buying 10k Bitcoin per day on top of the standard equilibrium and this is reflected in the price appreciation.Bitcoin Price OutlookBTC price rose beyond $50,000, with high odds of breaking $55,000, which corresponds with a notable flow into Bitcoin ETFs. Crypto Fear & Greed Index hit “extreme greed” with a value of 79, the highest since November 2021.Bitcoin ETF saw a net inflow of $542 million on Friday as investors FOMO the move towards all-time high. The demand from Bitcoin ETFs and derivatives traders continues to rise, but the supply from miners remains low. The paradigm shift in supply dynamics are causing institutional investors to be super bullish on Bitcoin.Bitcoin derivatives traders are even making call bets for as high as $70,000 for the month end. Experts believe new buyers may not get the opportunity to buy BTC under the $50K price if demand remains higher in pre-Bitcoin halving trades.#TrendingTopic