According to data from Farside Investors, BlackRock’s IBIT Bitcoin (BTC) ETF has made significant purchases, acquiring a staggering $1.1 billion worth of Bitcoin over just three days. As the world’s largest asset manager, BlackRock bought $193.5 million worth of BTC on April 22, followed by an even larger purchase of $643.2 million on April 23, and an additional $327.3 million on April 24.
Bitcoin (BTC) has made a strong recovery, reclaiming the $94,000 mark after dropping below $74,000 during its recent correction. This resurgence has sparked optimism among investors as BTC continues to perform well across all time frames.
As per CoinMarketCap, the Bitcoin asset currently is trading in the green zone, with a daily increase of 2.04%, a significant 10.49% gain over the past week, and an impressive 15.4% rise in the last 14 days. Over the previous month, BTC has climbed 7.05%, showcasing steady growth. Since April 2024, the cryptocurrency has seen a remarkable 47.63% surge.
Moreover, there are Other bullish factors that may have contributed to Bitcoin’s (BTC) price increase. The appointment of a pro-BTC SEC chair, Paul Atkins, who was sworn in on April 21, likely boosted investor confidence, as he is expected to adopt a more lenient stance toward the growing asset class. Additionally, the easing of global trade tensions may have further fueled optimism among investors.
Can Bitcoin Hit A New All-Time High Soon?
Bitcoin (BTC) reached a record all-time high of $109,114.88 on January 20 of this year, marking a significant milestone for the cryptocurrency market. However, since hitting its peak, the asset’s value has declined by nearly 14%, reflecting the volatility inherent in the crypto space.
According to analysis conducted by our experts, Bitcoin (BTC) could see significant growth in the coming days as its rally shows no signs of slowing down. One of our analysts predicts that Bitcoin may reach a new all-time high of $159,797.55 by the end of 2025. If BTC achieves this target, it would represent a nearly 100% rally from its current price levels.
Moreover, the Federal Reserve is likely to cut interest rates soon, which could drive an increase in risky investments. A rate reduction may trigger a rally in Bitcoin (BTC) and other cryptocurrencies.
Also Read: If You Invested $10,000 in Bitcoin (BTC) Two Years Ago, What Would Be Worth Today
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
