BTC Surges 2% to $109K as BlackRock ETF Hits $70B and Market Confidence Grows

Bitcoin (BTCUSDT) experienced a 2.00% price increase over the past 24 hours, currently trading at $109,299.40 on Binance, with a 24-hour opening price of $107,153.81. This upward movement is primarily attributed to a combination of significant market factors: a continued rally in the broader cryptocurrency market, a notable reduction in exchange reserves indicating increased long-term holding, and strong institutional interest exemplified by BlackRock’s Bitcoin ETF surpassing $70 billion in assets under management. Additionally, recent macroeconomic developments, including US-China trade talks, have contributed to heightened trading activity and positive sentiment. Despite spot Bitcoin ETFs seeing net outflows of $132 million after several weeks of inflows, overall crypto investment products recorded net inflows of $286 million, signaling ongoing investor confidence. Bitcoin’s trading volume remains robust, with approximately $38.6–$40.1 billion traded in the last 24 hours, and its market capitalization stands at $2.17 trillion, reinforcing its position as the leading cryptocurrency amid a strong market environment.