BlackRock's Bitcoin ETF is crushing it, with a market share of over 50%! 🚀 That's right, the world's largest asset manager is now sitting on a whopping $56.8 billion worth of Bitcoin, making up more than half of all US ETF issuers' holdings. Talk about a crypto power play! 💪Despite this epic milestone, Bitcoin ETFs have been on a three-day selling spree, with over $364 million in net outflows. Ouch! 😬 BlackRock's iShares Bitcoin Trust ETF (IBIT) took the biggest hit, losing $112 million. 😱
Yet, Bitcoin's price is still holding strong, bouncing back above $99,300. It's like the crypto equivalent of a phoenix rising from the ashes! 🐦🔥 Experts are buzzing about how ETFs aren't the only game in town—broader market liquidity, institutional accumulation, and macroeconomic trends are also shaking things up. 🌍💸
Some industry bigwigs are raising eyebrows over Bitcoin's range-bound price action. Samson Mow, CEO of Jan3, thinks it's all a bit too manufactured for his liking. 🤔 "It just looks very manufactured," he said. Conspiracy theories aside, Bitcoin's price action is definitely keeping everyone on their toes! 💃
