Yeliz Akmaca 
BlackRock Bitcoin ETF (IBIT) has reached a remarkable 628,000 BTC in assets, drawing significant attention. According to Farside Investors data on Wednesday, it recorded $319 million in net inflows, with IBIT alone contributing $223 million. Additionally, a purchase of 2,250 BTC collected $232 million from the market, showcasing strong institutional demand. IBIT’s share price surged 23% over the past month, signaling renewed interest from institutional players.
IBIT Leads BTC ETF Inflows
According to Farside Investors, U.S. Bitcoin ETFs saw $319 million in inflows on Wednesday, with IBIT leading at $223 million. Fidelity’s FBTC and Grayscale’s mini Bitcoin ETF (BTC) each contributed $35 million. Since mid-April, IBIT has dominated U.S. Bitcoin ETF inflows, setting the stage for a new peak as Bitcoin trades around $103,000.
Long-Term BTC Investor Cost Basis Rises
Glassnode reports that BTC Long-Term Holder (LTH) realized price has climbed to $45,340, indicating coins bought between $90,000-$100,000 are transitioning to long-term status. The rising cost basis highlights investor maturity. Analyst Miles Deutscher noted the current rally is driven by spot buying, with giants like BlackRock Bitcoin ETF contributing significantly.
BTC is currently trading at $102,388, up 1.2%. However, daily trading volume dropped 10% to $44.5 billion. Analyst Ali Martinez suggests a potential pullback to $100,000, with the Relative Strength Index (RSI) signaling overbought conditions. Meanwhile, analyst Captan Faibik identified a rising triangle pattern on the hourly chart, suggesting BTC could test the $104,900 resistance. Breaking this level could lead to new all-time highs.
BlackRock Bitcoin ETF’s leadership underscores how institutional demand is powering the rally. IBIT’s 628,000 BTC in assets reflects strong investor confidence. If BTC breaks the $104,900 resistance, it could reach an all-time high. Investors are closely monitoring these developments.
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