Blackrock Bitcoin ETF Hits $10B Mark as BTC Eyes $100K Post-Halving

Blackrock’s Bitcoin ETF has soared past $10 billion, marking a significant milestone in institutional crypto investment. The ETF’s approval in January sparked hefty inflows, coinciding with the impending Bitcoin Halving in April, fueling optimism and driving Bitcoin to new heights.

BlackRock $BTC ETF $IBIT at 4th place in terms of Volume traded! Everyday this new asset class ETF dominate the leaderboard!

It is amazing! Couple this with the fact that Hash Rate keeps on printing ATH! #Bitcoin will run in 2024 into 2025!

I’m confident long term! If you cant… https://t.co/TltLOfB4SZ pic.twitter.com/S3EKG232uM

— Seth (@seth_fin) March 18, 2024

The Bitcoin ETF debate, long contentious in the crypto community, has shifted with its approval, heralding a new era of legitimacy. Since then, Bitcoin ETFs have attracted substantial investor interest, with Blackrock’s ETF leading the charge, setting a record in institutional crypto investment.

The upcoming Bitcoin Halving, occurring every four years, historically triggers price rallies by halving new Bitcoin supply. This event, combined with the heightened institutional interest, sets the stage for Bitcoin’s bullish trajectory, potentially pushing it to unprecedented valuations.

With Blackrock’s ETF crossing the $10 billion threshold, further growth and mainstream adoption of cryptocurrencies as legitimate investment vehicles seem inevitable.

Key Levels to Monitor for Bitcoin (BTC)

Bitcoin’s recent price action reveals a correction on the daily chart, with the cryptocurrency experiencing a decline since forming a swing high at $73,800. Currently, the price is gravitating towards the previous swing low of $59,200, a critical demand level. Notably, the daily chart indicates that the Stochastic oscillator has entered oversold territory, signaling a potential reversal in price direction.

This convergence with the price dipping below the equilibrium (50%) on the micro-swing into discounted levels further underscores the likelihood of a bullish swing resumption. Investors are anticipated to seize the opportunity presented by discounted levels to establish entry points, as reflected in crypto signals.

BTCUSD Key Levels

Demand Levels: $59,310.0, $50,520.0, $38,510.0
Supply Levels: $80,000.0, $85,000.0, $90,000.0

Bitcoin Metrics:

Total Market Capitalization: $2.4 trillion
BTC Market Cap: $1.3 trillion
BTC Volume (24h): $60.3 billion
Rank: 1

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