Bitcoin Price Prediction: BTC Breaks $65,000 Resistance – Bulls Back in Control?
Bitcoin (BTC) held steady above the $66,000 mark, hitting an intraday high of $66,500. The Bitcoin price prediction now points to strong bullish momentum driven by increasing institutional interest. BlackRock’s iShares Bitcoin Trust (IBIT) has attracted significant investment, while CME Group’s planned entry into Bitcoin spot trading is expected to increase market liquidity and demand.
BlackRock’s iShares Bitcoin Trust (IBIT) sees strong institutional interest
BlackRock’s iShares Bitcoin Trust (IBIT) has performed impressively since its inception. The trust has attracted significant attention, with 414 retail or institutional investors coming forward in its first few months. This level of interest is notable, as it is unusual for a new investment to have even 20 owners initially.
Since its launch in January, IBIT has grown from zero to $16.65 billion in assets under management, making it the most popular Bitcoin investment for regular investors. Large firms such as Millennium Management, Schonfeld Strategic Advisors, and Aristeia Capital have invested in IBIT.
https://x.com/EricBalchunas/status/1791079436953022885
IBIT’s rapid growth to $16.65 billion in assets under management indicates strong institutional interest, which is having a positive impact on Bitcoin price.
- Great attention:414 investors in the first few months.
- Rapid growth:IBIT now has $16.65 billion in assets under management.
- Institutional interest:Large firms such as Millennium Management and Schonfeld Strategic Advisors are investors.
