BlackRock scooped up over $300 million of this crypto in a week

BlackRock , the world’s largest investment firm, accelerated its cryptocurrency buying spree this week, splashing over $300 million on Bitcoin ( BTC ). Data from October 20–24 show that the firm’s Bitcoin ETF, IBIT, attracted $324.3 million in net inflows, signaling strong institutional appetite for the leading cryptocurrency despite recent market ￰0￱ to Coinglass data , BlackRock’s inflows fluctuated but maintained a dominant upward ￰1￱ week began with a net outflow of $100.7 million on October 20, coinciding with mild weakness in Bitcoin’s price. However, investor sentiment quickly reversed as inflows surged to $210.9 million on October 21, marking a strong rebound that set the tone for the rest of the ￰2￱ continued with $73.6 million added on October 22 and a further $107.8 million on October 23, reflecting renewed institutional ￰3￱ October 24, inflows slowed to a more modest $32.7 ￰4￱ ETF inflows chart.) sits slightly higher at $114,427, indicating potential resistance.

However, Bitcoin remains comfortably above its 200-day SMA of $105,582, showing that the broader trend is still upward despite short-term ￰5￱ 14-day Relative Strength Index ( RSI ) stands at 47.72, reinforcing a neutral sentiment as it hovers near the midpoint of the ￰6￱ image via Shutterstock