Bitcoin
Why Bitcoin is up 3.5% today
Analysis
Bitcoin rose 3.5% over the past 24 hours as traders reacted to signs of heavy ETF-driven turnover that may indicate selling pressure is being absorbed. CoinDesk reported BlackRock’s bitcoin fund hit a $10B volume record, which it framed as a potential capitulation/peak-selling signal—often interpreted as clearing out supply and supporting a rebound.
Contributing Factors (3)
BlackRock's bitcoin fund hits $10 billion volume record, hinting at peak selling
Record volume, redemptions and pronounced tilt toward put options points to institutional capitulation.
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Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.