$BTC

Bitcoin Market Update – May 6, 2025

Bitcoin (BTC) is trading at approximately $94,424, experiencing a slight decline of 0.19% over the past 24 hours. The day’s trading range has seen lows of $93,702 and highs of $95,118. 

Key Developments:

• ETF Flows: On May 5, Bitcoin ETFs recorded net inflows of $425.5 million, with BlackRock’s IBIT ETF contributing $531.2 million. However, on May 6, Fidelity’s Bitcoin ETF experienced a net outflow of $57.8 million, indicating mixed investor sentiment.  

• Institutional Activity: BlackRock made a significant purchase of 5,600 BTC via over-the-counter transactions, totaling approximately $531 million. 

• Whale Movements: Two dormant Bitcoin whale wallets, inactive for over a decade, moved a combined 3,422 BTC (valued at $324.2 million), suggesting potential shifts in long-term holder strategies. 

Market Outlook:

Despite recent fluctuations, analysts maintain a bullish outlook for Bitcoin. Predictions suggest a potential rise to $109,575 by early June, supported by strong ETF inflows and institutional interest. 

Conclusion:

Bitcoin’s current consolidation around the $94,000 mark reflects a market in anticipation. With significant institutional investments and upcoming economic indicators, BTC’s trajectory remains a focal point for investors.