Million-dollar purchases from BlackRock, Fidelity, and ARK 🚀💸🐋🔥
😱 The institutional FOMO is unleashed! Bitcoin broke $100,000 again on May 8th, and it wasn't by magic or memes... it was the whales in suits and ties that drove the rally! 🐋👔
According to data from Farside Investors, spot BTC ETFs received over $142 million in inflows on May 7th. And who is behind this rain of millions? None other than the giants:
➡️ ARK 21Shares (ARKB): +$54M
➡️ Fidelity (FBTC): +$39M
➡️ BlackRock (IBIT): +$37M
And if that wasn't enough, BlackRock executed a direct purchase of more than 86 BTC in a single transaction, valued at $8.4 million. Yes, you read that right: just one transaction! 🤑📈
But this was not a one-hit wonder. On May 8th, there were also an additional $117M in inflows, led by IBIT (BlackRock) with $69M. All of this confirms a trend that goes beyond the hype: institutions are not just buying, they are stacking sats as if there were no tomorrow. ⛏️⏳
Alex Obchakevich (founder of Obchakevich Research) summarized it this way:
"This activity suggests sustained accumulation by hedge funds and asset managers using regulated instruments." Translated: the big players are in! 🦈✅
Moreover, Obchakevich points out that BTC is strongly correlated with Nasdaq (r = 0.75), indicating that the sentiment in tech is also pushing Bitcoin up. And if Nasdaq smiles... BTC does too. 😎💻
On the other hand, the Grayscale Bitcoin Trust (GBTC) continues to see capital outflows, but that's more due to its high fees (~1.5%) than distrust in BTC. Many are migrating to cheaper options like IBIT and FBTC. Nobody wants to pay more for the same! 💸❌
Express summary for the busy:
➡️ BTC breaks $100K
➡️ Institutional investors keep accumulating strongly
➡️ BlackRock, Fidelity, and ARK lead the purchases
➡️ High correlation with Nasdaq
➡️ GBTC continues to lose capital due to its fees
📌 Sources: Cointelegraph, Farside Investors, Arkham Intelligence, statements from Alex Obchakevich.
🤔 Do you think this institutional accumulation will take Bitcoin to $120K or more this month? Or are we in a bull trap?
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