Bitcoin Price Analysis: BlackRock’s Bitcoin ETF Surpasses Gold – Is a $100,000 Rally Next?

Bitcoin Cryptocurrency
Last updated:
Crypto Writer
Crypto Writer
Arslan Butt
About Author

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Last updated:
Why Trust Cryptonews
For over a decade, Cryptonews has covered the cryptocurrency industry, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships.

BlackRock’s iShares Bitcoin Trust (ticker IBIT) has achieved a significant milestone, surpassing its gold ETF in net assets less than a year after its launch. As of November 7, IBIT’s net assets reached $33.17 billion, edging past the iShares Gold ETF (IAU), which holds $32.9 billion.

This rapid ascent has caught the attention of investors and analysts, who view it as a potential turning point in the investment landscape.

ETF Store President Nate Geraci remarked, “Absolutely wild,” in a post on X (formerly Twitter), highlighting the record-breaking growth of BlackRock’s Bitcoin ETF. The fund’s popularity is notable given that it’s not yet available on most major platforms, such as Vanguard.

In just under a year, IBIT and 11 other spot Bitcoin ETFs have collectively garnered $25.5 billion in net inflows, with IBIT leading the pack as institutional interest in cryptocurrency grows.

Institutional Demand Spurs Record Inflows

The timing of IBIT’s explosive growth coincides with recent developments in U.S. economic policy. Following Donald Trump’s victory in the recent U.S. presidential election, combined with a Federal Reserve rate cut, institutional investors have flocked to crypto assets as a hedge against traditional market volatility.

Jeff Mei, COO of crypto exchange BTSE, commented, “[Trump’s victory], combined with the Fed rate cut on Thursday, spurred institutions to make the plunge into crypto markets.

With more rate cuts expected and potential pro-crypto regulations on the horizon, the momentum in BlackRock’s Bitcoin ETF is likely to continue.”

  • IBIT Net Assets: $33.17 billion (as of Nov. 7)
  • IAU Net Assets: $32.9 billion
  • Single-Day Inflow Record: $1.1 billion on Nov. 7

The inflows into IBIT underscore a shift in how institutions are diversifying their portfolios, with many viewing Bitcoin as a long-term asset rather than a speculative investment.

This trend aligns with a recent study by Schwab, which found that millennials, in particular, are increasingly interested in crypto-focused ETFs.

Schwab noted, “Millennial ETF investors have the strongest appetites for ETFs and are most interested in personalized ways to invest.” The report suggests that crypto ETFs could continue to see robust growth as younger investors enter the market.

SEC Approval Boosts Bitcoin ETF Liquidity

In September, the U.S. Securities and Exchange Commission (SEC) approved BlackRock’s proposal to list and trade options for IBIT, further increasing its appeal to institutional investors. Options trading, while typically associated with speculation, can also provide hedging opportunities, making the ETF attractive to both retail and institutional investors.

Market structure analyst Dennis Dick remarked, “Counter to common opinion, options actually reduce volatility. As open interest rises, it creates natural buyers and sellers on both sides of the market, increasing liquidity and reducing volatility.”

The availability of options trading on IBIT is expected to enhance liquidity and stability, a positive sign for investors concerned about Bitcoin’s historical price swings.

With this new level of accessibility, the ETF’s options market may create a more stable price environment, encouraging additional inflows from investors who were previously wary of Bitcoin’s volatility.

Bitcoin’s Path to $100,000: Market Sentiment Remains Strong

The unprecedented growth of BlackRock’s Bitcoin ETF has sparked discussions about the potential for Bitcoin to reach $100,000 in the near future. As BTC currently trades around $79,000, analysts are eyeing significant technical levels.

According to recent data, Bitcoin has completed the 161.8% Fibonacci extension at $77,810, with the next resistance levels projected at $80,400 and $82,180. A continued rally could lead to further gains if institutional inflows persist.

Key insights from analysts include:

  • Resistance Levels: $80,400 and $82,180 as next targets
  • Support Levels: $75,460 and $73,610
  • Technical Indicator: RSI in overbought territory at 76, signaling potential consolidation

While Bitcoin’s ascent to $100,000 is far from guaranteed, the rapid success of IBIT reflects shifting sentiment among investors who are increasingly viewing Bitcoin as a viable long-term investment. The inflows into BlackRock’s ETF are part of a broader trend as institutional investors explore alternative assets to hedge against inflation and economic uncertainty.

As market sentiment continues to build around the idea of pro-crypto regulatory frameworks under the new administration, analysts believe Bitcoin’s appeal will only grow. The convergence of institutional demand, regulatory shifts, and financial innovations such as ETFs could ultimately drive Bitcoin to new heights, with $100,000 no longer seen as an improbable target but a realistic milestone in the coming years.

Pepe Unchained ($PEPU): Why It’s a Strong Buy for Crypto Investors Right Now

With the rise of meme coins, Pepe Unchained ($PEPU) is quickly emerging as a standout opportunity for potential gains. Currently in its presale phase, $PEPU offers investors several compelling reasons to take notice.

Presale Advantage: Crypto experts, including popular YouTuber Jacob Crypto Bury, suggest that buying in the presale could yield substantial returns. With $25.58 million raised out of a $26.12 million goal, $PEPU is nearing its funding target, adding to its appeal.

High Staking Rewards: Offering an impressive 499% APY, Pepe Unchained presents an attractive passive income stream for investors looking to grow their portfolios.

Investor Trust & Security: With smart contract audits from Coinsult and SolidProof, $PEPU provides a secure investment option, reinforcing investor confidence. The token price currently sits at $0.01239, with the next increase fast approaching.

Don’t miss the chance to buy $PEPU at a lower price before the next presale milestone!

Buy PEPU Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

More Articles

Price Analysis
Shiba Inu Burns Push SHIB Price Over $0.00003, Analysts Predict Another Zero Going Down by 2025
Harvey Hunter
Harvey Hunter
2024-12-01 17:13:41
Altcoin News
Former Facebook Exec Claims Political Barriers Led to Libra’s Collapse
Ruholamin Haqshanas
Ruholamin Haqshanas
2024-12-01 17:00:00
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors