BlackRock Snaps Up $64.5M in Bitcoin Amid ETF Outflow Noise
Wall Street giant BlackRock just loaded up on $64.5 million worth of Bitcoin, fresh on-chain data reveals. Shared by crypto analyst Ash Crypto this morning, the purchase underscores unwavering institutional appetite even as ETF outflows dominate headlines. This move flips the script on bearish chatter, hinting at a solid price floor for patient holders.
Ash Crypto's post lit up X with charts showing BlackRock's latest accumulation, roughly 952 BTC at current prices via its flagship IBIT ETF. While spot Bitcoin ETFs saw net outflows recently, this buy signals smart money doubling down on dollar-cost averaging through dips. Institutions like BlackRock aren't fazed by short-term volatility; they're positioning for Bitcoin's long-term scarcity and adoption as digital gold. Replies to the post echo the optimism, with traders noting BlackRock's steady stacking ignores altcoin bleeds and focuses on BTC dominance. On-chain trackers confirm the flow into IBIT, countering narratives of waning interest. This isn't FOMO—it's calculated accumulation by the world's largest asset manager, which manages trillions and sees BTC as a portfolio staple. In a market craving hopium, such buys remind us that big players view current levels around $67,000 as entry points. Past patterns show institutional inflows precede rallies, bolstering hodlers against retail panic.
This purchase undermines bearish sentiment, reinforcing a $67K price floor that shields long-term holders from downside. It ignites fresh optimism, potentially drawing more capital and stabilizing BTC amid broader market jitters. For dip buyers, it's validation that the bottom is in.
BlackRock's bold BTC grab proves institutions are all-in for the long haul. Retail traders, take note: buy the dip now before the next leg up. Bitcoin's future looks brighter with whales swimming upstream.