#TechnicalAnalysis
BlackRock’s spot Bitcoin ETF $IBIT has officially crossed $70 billion in assets under management, now accounting for over 3% of Bitcoin’s total circulating supply. In just the past week, $1.1 billion in net inflows were recorded—signaling institutional conviction is not just rising, but accelerating.
Bitcoin is entering a new phase of institutional legitimacy and scarcity.
$IBIT’s growth is not just a headline—it's a technical driver of supply-side pressure.
Short-term volatility aside, the macro picture remains structurally bullish.
When BlackRock, Fidelity, and other ETF issuers consistently add to AUM during price consolidations, that behavior often front-runs a breakout. Historically, post-accumulation zones have led to multi-leg rallies once retail momentum follows.
If ETF inflows stay above $800M/week, $BTC could retest and surpass ATH levels in the coming weeks.
What This Means Fundamentally:
• Supply shock narrative is real: As ETFs accumulate coins, fewer remain on liquid exchanges.
• Institutions aren’t trading—they’re accumulating, creating sustained downward pressure on BTC volatility.
• $BTC is increasingly becoming a macro-hedge asset rather than just a risk-on speculative trade.
Technical Breakdown of $BTC (as of now)
Trend: Strong macro uptrend
Support Zones:
• $66.8K (20-day EMA support)
• $64.2K (structural support + ETF buy zone)
Resistance:
• $72.5K (local high + psychological barrier)
• Breakout above would target $76K–$80K range
Momentum Indicators:
• RSI at ~58: healthy zone, no extreme overbought
• MACD crossing bullish on 4H and 1D charts
• On-Balance Volume (OBV) rising—confirming price strength
Volume Profile:
• Strong buy volume correlating with ETF inflows
• Whale wallet activity is stable; no major distribution seen yet.
