Blackrock continues to expand Bitcoin investments as the crypto market rises again. On March 6, a total of 80 BTC entrance to Bitcoin ETFs was recorded, while the biggest purchase of Blackrock’s Ishares Bitcoin ETF (IBIT) was realized.

Blackrock’s Bitcoin investments are growing

According to Block Chain Analysis Platform Lookonchain, Blackrock’s IBIT Fund 432 BTC ($ 38.9 million) entry and increased its total Bitcoin presence to 572.658 BTC. The total value of these BTCs reached approximately $ 51.57 billion.

This introduction gives a remarkable recovery signal after the big output of the previous day. On March 5, 1,747 BTC output from Bitcoin ETFs (-153,87 million dollars) was recorded, especially Grayscale’s GBTC fund lost 641 BTC and reduced its total presence to 195.746 BTC.

Blackrock Strategy and ETF Fund Streams

Blackrock’s IBIT Fund has received more than $ 37 billion in a total of more than $ 37 billion since it was released in January 2024. Although the fund flows slowed off from time to time due to fluctuations in the crypto market, investment consultants show great interest in the inclusion of IBIT in portfolios.

In this respect, Blackrock plans to include IBIT fund in target investment portfolios with one to 2 %. It is thought that this move can create additional demand for the ETF and have a positive effect on the market.

Bitcoin reached $ 90,000

Bitcoin, after the loss of value at the beginning of the week rise again to reached $ 90,000. Other large crypto beings accompanied this rise:

• Bitcoin is currently traded for $ 90,150 and has gained 2.7 %in the last 24 hours.
• Bitcoin Cash (BCH), Chainlink (LINK) and APTOS (APT) Altcoins such as significant price increases.

What are the critical levels for Bitcoin?

According to analysts, Bitcoin faces significant resistance at the level of $ 92,000. According to Swissblock’s analysis, Bitcoin is trying to hold on to this level after jumping from $ 81,500, and the movements in this range will be decisive in terms of short -term market direction.

If this resistance level is exceeded, Bitcoin is expected to enter the promotion trend again, while there is a risk of withdrawing to lower support levels if it fails.