BlackRock Buys $324M in Bitcoin, Strengthening Market Confidence
BlackRock’s Bitcoin ETF, IBIT, recorded $324.3 million in net inflows between October 20–24, signaling renewed institutional confidence in Bitcoin despite recent volatility. The world’s largest asset manager’s steady accumulation helped keep BTC above the $100,000 mark and stabilize sentiment across the market.
After a brief $100 million outflow on October 20, inflows rebounded sharply, peaking at $210.9 million the next day and continuing through the week. Analysts say this consistent buying reflects strong institutional demand, helping Bitcoin recover from its early October dip and trade around $111,700.
Research firms like Tiger Research now forecast Bitcoin could reach $200,000 in Q4, driven by sustained inflows from institutions like BlackRock and growing long-term holder accumulation.
