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🚨 BlackRock Ends 8-Week Bitcoin Outflow Streak with $250M BTC Buy
BlackRock has reportedly added around $250 million worth of Bitcoin to its wallets, marking the end of an 8-week net outflow streak for U.S. spot Bitcoin ETFs.
The move is being viewed as a sign that institutional investors may be returning to the Bitcoin market after weeks of reduced inflows.
📊 Key Highlights:
💰 BlackRock accumulates approximately $250M in BTC.
📈 U.S. spot Bitcoin ETFs end an 8-week outflow streak.
📊 Bitcoin's long-term MACD has turned bullish, a signal that has historically preceded longer-term uptrends.
⚠️ However, analysts at CryptoQuant caution that the recent recovery could still be a bear-market rally, meaning confirmation is still needed.
What This Means
If institutional buying continues, it could provide stronger support for Bitcoin's price in the coming weeks. However, traders should watch whether BTC can hold key support levels and break major resistance before confirming a new bullish trend.
Do you think this is the start of the next Bitcoin rally? 🚀📈
$BTC #backrock