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BlackRock's iShares Bitcoin Trust (IBIT) It started 2025 with a huge inflow of $332.6 million, which is about 3,413 BTC. This is the ETF's largest single-day outflow since its inception, and is larger than the previous low of $188.7 million, equivalent to 1,933 bitcoins, on December 24, 2024.
Even with early stumbles in the new year, IBIT had a strong performance in 2024, attracting a total of $37.2 billion in inflows. BlackRock's Ethereum ETF (ETHA) has also received some serious attention from investors, generating $3.53 billion during the same time.
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As of now, BlackRock owns approximately 548,505 BTC worth $52.81 billion and approximately 1,071,415 ETH worth $3.68 billion.
The cryptocurrency market is reacting negatively
It remains to be seen how this will impact the broader cryptocurrency market. But, as we can see now, digital asset prices are facing pressure and decline today. This may be due to the fact that Bitcoin It saw a bearish reaction from the $97,700 area, which is now acting as a major resistance for the price of the leading cryptocurrency.
There is a forecast for Bitcoin, as there is now an attempt to form a classic “head-shoulders” visual pattern, which will be activated when the neckline breaks down - around $92,000.
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If that happens, from here we can expect a deep correction to the $80,000 to $70,000 region. This would represent a 30% decline from its all-time high BitcoinIt is a healthy correction necessary to continue the upward trajectory.
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