BlackRock (BLK). Re-purchases $110 million in Bitcoin (BTC)... Reverses course in just one day

▲ U.S. Federal Reserve (Fed), BlackRock, Bitcoin (BTC)/ChatGPT generated image

BlackRock (BLK) reversed its trading direction in just one day, re-purchasing Bitcoin (BTC) worth $111.43 million.

According to cryptocurrency media outlet U.Today on August 4 (local time), BlackRock bought Bitcoin worth $111.43 million just hours after funds flowed into its Bitcoin fund. On-chain data showed a pattern where BlackRock sold Bitcoin the previous day and then proceeded with a large-scale purchase.

On the same trading day, over $170 million flowed into Bitcoin spot ETFs. BlackRock accounted for the largest portion of the total net inflow.

BlackRock has continued to buy and sell amid increasing volatility in the Bitcoin market. This transaction also drew attention as it re-purchased the volume sold the previous day in just one day.

Bitcoin has fallen every August since 2022. This year, as of August 4, it recorded an early-month rise, increasing by 1.37%.

BlackRock's $111.43 million purchase and the net inflow of over $170 million into Bitcoin spot ETFs were confirmed on the same trading day. Institutional fund flows and Bitcoin's August returns remain key indicators for judging future market trends.

[Key Article Summary]

-BlackRock re-purchased $111.43 million in Bitcoin after selling it the previous day.

-On the same trading day, over $170 million flowed into Bitcoin spot ETFs.

-Bitcoin has fallen every August since 2022, but this year it rose by 1.37% as of August 4.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*