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Bitcoin ETFs Diverge: BlackRock Accumulates, Others Liquidate
As the crypto market continues to experience a rollercoaster ride, Bitcoin’s (BTC) performance has been stuck in neutral gear. The asset is trading at $84,953.64, down by 22% from its all-time high, with no clear indication of when or if it will break out of this range.
However, what’s causing significant concern among market analysts is the recent divergence in Bitcoin ETFs. While BlackRock has decided to accumulate more Bitcoins, other ETFs are liquidating their positions, leading to an imbalance that could have far-reaching implications for the stability and confidence in the asset.
It is essential to note that institutional investors such as BlackRock play a crucial role in providing support to the market by absorbing any excessive selling pressure. Therefore, it’s unusual to see them accumulating more Bitcoins while other major players are liquidating their positions.
The scenario raises concerns about Bitcoin’s potential for further growth and stability going forward. Without additional institutions stepping in to stabilize the asset, the likelihood of Bitcoin floating around this price range indefinitely is increasingly high.
Source: https://u.today/bitcoin-etfs-diverge-blackrock-accumulates-others-liquidate
