Sign Up on MEXCBlackRock Sells 3,510 BTC Worth $3.3B, Will Bitcoin Tumble?
Highlights
- BlackRock's Bitcoin ETF saw the biggest outflows of 3,510 BTC ($3.3B), concerning investors.
- Bitcoin ETFs globally saw $247.8M in outflows, showcasing declining market sentiments and rising uncertainty.
- Other than a short hiccup, analysts see Bitcoin price hitting $114k before Trump's inauguration on Jan. 20.
Amid Bitcoin’s constant struggle to recover, BlackRock’s recent selling has increased investors’ worries. On January 2, 2025, the popular IBIT ETF witnessed the biggest outflows in its history, selling 3,510, equivalent to $3.3B. However, there are mixed sentiments about this news, so let us discuss the impact of these outflows on the Bitcoin price.
BlackRock Sells Amid Increased Market Uncertaining & Global ETF Ouftflows
Although the IBIT has witnessed the biggest outflows since its inception, it is not the only ETF facing outflows recently. The Coingalss data reveals that the US Spot Bitcoin ETFs are facing massive outflows, bringing the total to $247.8 million. In this, BlackRock contributed to the 3,510 Bitcoin sales concerning the investors. This is because the same exchange-traded fund was poured with inflows and even contributed to the Bitcoin price reaching as high as $108.2k in December 2024.
The crypto market sentiments clearly represent the investors losing their greed, as the Bitcoin and global Bitcoin ETFs witnessed significant drops in the past few weeks. Regardless of the current situation, it is still prominent that IBIT is the biggest spot Bitcoin ETF, as it created multiple records throughout the year, including reaching $51B (548,505 BTC) in AUM.
With that, a recovery in the net inflows is clear, but the recent selling could influence the Bitcoin price.
How Bitcoin Price Will React With This Massive BlackRock Sell?
Looking at the broader picture, these IBIT ETF outflows would not impact the Bitcoin price. However, this could sweep the December lows in the short term, especially considering all the major ETFs witnessing outflows. Furthermore, Donald Trump’s inauguration could bring further uncertainty. However, such a setback often leads to further rallies. Many crypto analysts have predicted that the BTC price could hit $225k in 2025.
Interestingly, a recent CoinGape report revealed that Bitcoin could hit a new ATH of $114k even before Trump’s inauguration on January 20. So, a lot is at stake, keeping the investors hooked on this digital asset.
Where To Go From Here?
Since its launch, Bitcoin has been growing exponentially, and 2024 brought it to new levels of success. However, the expectation for 2025 is no less, despite the spot Bitcoin ETF outflows and the current BTC price consolidation. Major crypto analysts see this digital asset moving higher and higher, bringing the world of finances to a different level. However, the road is not entirely smooth; even the recent BlackRock sale of 3,510 BTC could create a short-term negative impact but could recover pretty much soon if any major macroeconomic event did not interfere.
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