BlackRock has significantly increased its Bitcoin holdings, channeling over $300 million into the cryptocurrency and signaling strong institutional confidence amid market fluctuations. The firm’s spot Bitcoin ETF, IBIT, recorded net inflows totaling $324.3 million between October 20 and October 24, underscoring persistent demand from major financial players.

A Week of Shifting Flows

The week’s activity for the IBIT fund began with a net outflow of $100.7 million on October 20, corresponding with a minor dip in Bitcoin’s price. However, investor sentiment reversed sharply as the fund saw a massive $210.9 million inflow the very next day, marking a powerful market rebound. This positive momentum carried through the week, with an additional $73.6 million added on October 22 and another $107.8 million on October 23.

While inflows moderated to $32.7 million by October 24, the consistent accumulation by BlackRock helped stabilize market sentiment. The sustained buying pressure provided a crucial counterbalance to broader market uncertainty and reinforced investor confidence in the digital asset.

Institutional Buying Bolsters Market Stability

This substantial capital injection from BlackRock was instrumental in maintaining Bitcoin’s price above key support levels following a downturn earlier in the month. Analysts widely attribute the market’s resilience to the unwavering interest from institutional investors. Despite volatility, long-term demand for Bitcoin appears solid, with some research firms like Tiger Research projecting a potential $200,000 price target for the asset in the fourth quarter.

This structural demand is further highlighted by on-chain data, which shows that “dolphins”—wallets holding between 100 and 1,000 BTC—now control 26% of the total supply. Currently, Bitcoin is trading at $111,702, reflecting a 0.6% increase in the last 24 hours. BlackRock’s ongoing accumulation strategy continues to be a key indicator of growing institutional conviction in the cryptocurrency market.

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