BlackRock made a large buy of BTC on August 27, totaling $200.76 million. This institutional buying signal itself is a trackable on-chain strategy: when a major asset manager publicly adds to its position, it is usually a reference anchor for a medium-term trend. Watch the day-to-day inflow data of spot ETFs such as IBIT to help confirm the direction of institutional funds.
Comparing with the current market: BTC is currently trading at $79,536, up 1.4% over the past 24 hours. Estimated using the August 27 price, BlackRock’s estimated cost for this position is in the range of about $64,000, and the current price is already roughly 24% above that cost. The underlying logic of the strategy remains valid, but the entry level has clearly been raised. If limit orders were placed at the original price, they have likely failed. In that case, move the reference support up to the $74,000–$76,000 range and watch for a pullback and rebound there. #BTC
Comparing with the current market: BTC is currently trading at $79,536, up 1.4% over the past 24 hours. Estimated using the August 27 price, BlackRock’s estimated cost for this position is in the range of about $64,000, and the current price is already roughly 24% above that cost. The underlying logic of the strategy remains valid, but the entry level has clearly been raised. If limit orders were placed at the original price, they have likely failed. In that case, move the reference support up to the $74,000–$76,000 range and watch for a pullback and rebound there. #BTC