Bitcoin (BTC) is back in the red during the ongoing session after Friday’s recovery fizzled 0 flagship cryptocurrency reached an intraday high of $110,369 on Friday but failed to retain momentum, ultimately settling at $109,697. Bitcoin traders had reduced bullish positions, indicating mixed market signals ahead of Friday’s $22 billion monthly Bitcoin options 1 Files For New ETF BlackRock, the world’s largest asset manager, has registered a Delaware trust company for its new Bitcoin Premium Income 2 yield-generating product will use covered call options on BTC futures to collect premiums for regular distributions, trading potential upside for steady 3 ETF analyst Eric Balchunas called the new ETF a sequel to the $87 billion IBIT, noting that covered call options would provide a BTC yield through options premiums.
“BlackRock registered the name iShares Bitcoin Premium ETF, filing coming 4 is a covered call Bitcoin strategy to give BTC some 5 will be a '33 Act spot product, sequel to the $87b.” Delaware trust registrations typically follow S-1 or 19b-4 filings with the Securities and Exchange Commission (SEC) to begin formal approval 6 SEC has become increasingly open to crypto investment products under the Trump administration. BlackRock’s IBIT ETF was launched in January 2024 and has registered over $60 billion in 7 Raises Bitcoin Exposure BlackRock’s global Allocation Fund increased its holdings in IBIT by over 38% during the second quarter, a September 26 filing with the Securities and Exchange Commission (SEC) has 8 fund held 1,000,808 IBIT shares valued at $66.4 million as of July 9 represents a substantial increase from the 723,332 shares it held as of April 30.
Year-over-year growth shows rising Bitcoin adoption within BlackRock’s portfolio 10 currently represents 0.4% of the Global Allocation Fund’s $17.1 billion assets under 11 is a 62% increase from the 0.25% allocation during the first 12 has recommended a 1% to 2% Bitcoin allocation as a “reasonable range” in its model portfolio on February 13 fund’s recent increases in allocations suggest it is moving towards the recommended exposure level through gradual accumulation. BlackRock’s Global Allocation Fund invests across US and international equities, debt securities, money market investments, and other short-term 14 Fed Chair Pick Could Be The Biggest Bull Catalyst Galaxy Digital CEO Mike Novogratz believes Bitcoin (BTC) could see a sharp rally if the next Federal Reserve Chair is exceptionally 15 during an interview with Kyle Chasse, Novogratz stated, “That’s the potential biggest bull catalyst for Bitcoin and the rest of crypto.
Fed’s cutting when they shouldn’t be, and you put in a massive 16 Bitcoin get to $200K? Of course, it could because it becomes a whole new conversation if that happens.” However, Novogratz stated that while aggressive rate cuts will be bullish for crypto, they would come at a very steep cost, adding that he hoped they would not happen. “Do I want it to happen? No.
Why? Because I kind of love 17 would be really shitty for 18 also stated that there was a real chance the Federal Reserve could lose its 19 Singh, vice chair and chief global economist at PGIM Fixed Income, echoes Novogratz’s views, stating, “There's a very decent chance that the FOMC looks and acts quite differently after Powell’s term expires in May 20 a cyclical basis, I think the risks to the dollar are skewed to the downside.” Bitcoin (BTC) Price Analysis Bitcoin’s (BTC) hopes for a recovery over the weekend faded as it lost momentum after briefly crossing $110,000 on 21 flagship cryptocurrency has endured a brutal week, struggling to recover after two separate crashes over the week took prices below key 22 showed signs of a recovery on Wednesday but suffered a dramatic crash on Thursday, dropping nearly 4% to $109,035.
It recovered on Friday, rising 0.61% to $109,697. However, BTC is back in the red, marginally down during the ongoing session. BTC’s drop to $109,000 on Thursday was its lowest level in three weeks and triggered over $275 million in liquidations, mostly of leveraged bullish positions. Friday’s options expiry has also failed to breathe life into price action so far, although that could change on Monday.
Meanwhile, traders have been reducing their long positions, driving the long-to-short ratio to 1.7x, the lowest in over 30 days. However, BTC’s drop below $112,000 saw traders reverse course and add upward exposure, with the indicator slowly climbing towards 1.9x in favor of 23 fear bears could drag prices even lower, with the rebound quickly losing momentum. 10x Research head Markus Thielen stated, “The bounce back from that dip quickly lost momentum, and with prices now hovering close to this level again, another wave of stop-loss selling could 24 comes at a time when many are positioned for a Q4 rally — making the bigger surprise not a surge higher, but a correction instead.” BTC ended the previous weekend in the red, dropping 0.56% and settling at $115,314.
The price faced volatility on Monday as buyers and sellers struggled to establish 25 ultimately gained the upper hand as BTC registered a marginal increase and settled at $115,381. Bullish sentiment intensified on Tuesday as the price rose 1.26% to cross $116,000 and settle at $116,832. Selling pressure returned on Wednesday as BTC fell to an intraday low of $114,724. It recovered from this level to settle at $116,484, ultimately dropping 0.30% BTC reached an intraday high of $117,998 on Thursday.
However, it could not stay at this level and settled at $117,117. The price lost momentum on Friday, dropping 1.22% to $115,690.
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