As Bitcoin's price approaches $104,000, do you also find yourself asking: **'Could this be the peak? Is it time to take profits and run?'** But if I told you this surge is not driven by retail investors but rather supported by financial giants like BlackRock, would you still think the same?
Bitcoin has once again ignited widespread discussion online, but this time the core of the storm is no longer Twitter shout-outs or KOL hype, but rather deeper structural forces—ETF capital inflows, especially the IBIT ETF from BlackRock, are quietly reshaping the entire market landscape.
According to statistics, the IBIT spot ETF currently holds over 631,000 BTC, with a market value close to $65 billion, accounting for about 3% of the total Bitcoin supply (21 million). This represents an unprecedented level of concentration; in other words, one of the world's most important decentralized assets is quietly becoming 'centralized.'
A 'cold bull market': from speculation to locked assets.
This is not ordinary 'institutional entry.' More importantly, the funds from giants like BlackRock are not for short-term trading but for long-term allocation. More and more BTC is being locked in these 'cold wallets,' removed from the trading market, indicating a sharp decline in liquidity.
What are the consequences of declining liquidity? Two words: crash resistance. And what does crash resistance imply? More stable price increases.
There have been multiple data confirmations in 2024:
February 2024: IBIT and Fidelity FBTC saw a combined inflow of over $1.1 billion weekly, driving the BTC price to continue rising.
March 2024: Daily inflows reached $849 million, directly pushing BTC to a historic high of $73,000.
November 2024: Once again triggered a record inflow of $5.6 billion, with Bitcoin rising to $99,000, an increase of over 45%.
Such rises are not driven by speculation or shouting orders, but by real-money 'subscription-style' purchases. Bitcoin is transitioning from 'casino chips' to true digital gold.
Centralization risk, or a bullish signal?
Some might say that centralization goes against the spirit of Bitcoin and could pose risks. But if we look at it from another perspective—when institutions with the largest asset management power begin to show their 'faith in Bitcoin' through actions, it may actually represent a new endorsement mechanism.
You might think this is just the end of a bull market, but in reality, it could be the starting point for the next super bull market.
This structural change is altering the market rhythm, and whether you can keep up with the rhythm is key.
Tip:
While retail investors are still shouting that 'the peak has been reached,' smart money has already quietly positioned itself. Now is not the time for you to hesitate; it's the critical moment to let AI help you understand the underlying logic of the market.
If you are still scrolling through news looking for signals, why not try the AI news analysis feature of Mlion.ai? It provides in-depth interpretations of ETF capital flows, real-time on-chain data fluctuations, social media sentiment, and macro structural changes. Stop being an 'information mover' and start being a winner of 'cognitive differences.'
Moreover, its price prediction system and AI research tools can help you identify potential bottoms and rebound points based on these capital flows and concentration trends. Use AI to see the direction clearly rather than following blindly.
Disclaimer:
The above content is for informational sharing only and does not constitute any investment advice. Investing involves risks, and caution is advised when entering the market.