PANews reported on June 20, according to Cointelegraph, that BlackRock's Bitcoin spot ETF (IBIT) has surpassed $69.7 billion in assets under management, holding 3.25% of the total Bitcoin supply, accounting for 54.7% of the U.S. Bitcoin ETF market. Notably, this ETF has entered the top 25 global ETFs by assets under management in less than a year and a half of operation.
Glassnode data shows that the average amount of a single Bitcoin transaction currently stands at $36,200, with transactions over $100,000 accounting for 89%, indicating that institutional investors are dominating the market. However, a report from CryptoQuant points out that the number of short-term Bitcoin holders has decreased by 800,000 to 4.5 million since May 27, showing that new market funds are drying up. CryptoQuant believes that if investor demand remains weak, Bitcoin may seek support at the $92,000 level.
