Behind the Trillion Dollar Trading Volume: BlackRock's 'Domination' and Market Divergence

From its launch in January 2024 to June 2025, the cumulative trading volume of the US spot Bitcoin ETF surpassed $1 trillion, with an average daily trading volume stabilizing between $2.3 billion and $4.4 billion. BlackRock's IBIT dominates the market with a 79% market share, and assets under management (AUM) skyrocketed to $70 billion, crushing other competitors.

(Key Divergence Point):

The 'Collusion' of Whales and Retail Investors: Addresses holding 10-10,000 BTC increased their holdings by 83,105 BTC within 30 days, but the derivative open contracts surged to $46.74 billion, intensifying the long-short battle.

Inside the ETF, there's a stark divide: BlackRock's IBIT saw a single-day net inflow peak of $430 million, while Grayscale's GBTC continued to bleed, with a cumulative outflow of $23.23 billion.

Market Sentiment: Resonance of Technical and Macro Factors

Technical Breakthrough Signals

Bitcoin's weekly price broke through the $72,000 resistance level, with EMA moving averages in a bullish arrangement. A short-term pullback stabilizing at the $102,000-$103,000 support zone. If it holds above $108,000, the next target is directly at $120,000; if a rounded bottom breakout occurs, the technical target looks at $140,000.

(Operational Strategy): Current price $108,141, accumulate in batches on a 5% pullback, with a stop loss below $100,000; chase the rise above $115,000, targeting $120,000!

Macro Catalysts

Federal Reserve Rate Cut Cycle: The rate cut starting in September 2025 will lower market volatility, and a risk-on environment will drive funds into high-risk assets.

Countdown to Regulatory Dividends: The SEC is accelerating the approval of the spot Ethereum ETF, which, if approved, will ignite a rally for ETH and Layer 2 assets.

Undercurrents: Overlooked Alpha Opportunities

BNB Ecosystem Explosion: After Binance Alpha 2.0 broke down the CEX/DEX barriers, wallet trading volume surged 24 times. Key focuses:

Meme Coins Left Side Ambush: Tokens like Mubarak and TAT saw single-day surges of 407,344% and 86,126% respectively.

Infrastructure Tokens Right Side Chase: PancakeSwap rose 66% in 14 days, and FORM doubled in three days.

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