On October 22, US Bitcoin ETFs reported outflows, marking an end to a consistent seven-day streak of inflows. This change reflects a level of uncertainty among traders, even as Bitcoin’s price hovers around $67,200. These fluctuations indicate a varying sentiment in the market.
Contrasting this trend, BlackRock’s iShares Bitcoin Trust remains a strong buyer in the market. Over the last week, the Trust has acquired a significant amount of Bitcoin—22,480 BTC, valued at approximately $1.51 billion. This strategic move increases its overall Bitcoin holdings, underscoring its confidence in the cryptocurrency’s potential despite prevailing market fluctuations.
