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BlackRock’s Bitcoin ETF Buys $970M, Boosting Market Support
Joe G & Money Talks
April 29, 2025 • Estimated Reading Time: 6 minutes
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What we will talk about today...
Trump’s 100-Day Speech Could Break Bitcoin's Tight Range
BlackRock’s Bitcoin ETF Buys $970M, Boosting Market Support
Bitcoin Set to Bloom in US as China Rushes to Gold
Bitcoin consolidates below $96K as markets await Trump's 100-day speech, which could ignite a rally.
$BTC Price is compressing again the past few days after the move back into the previous range.
Key level below with the range low and Daily 200MA coming in between $89.5K-$91K.
There's the local high at $99.5K which is also roughly the mid range and the big psychological $100K
— Daan Crypto Trades (@DaanCrypto)
5:49 AM • Apr 29, 2025
$BTC Price is compressing again the past few days after the move back into the previous range.
Key level below with the range low and Daily 200MA coming in between $89.5K-$91K.
There's the local high at $99.5K which is also roughly the mid range and the big psychological $100K
— Daan Crypto Trades (@DaanCrypto)
5:49 AM • Apr 29, 2025
Main Points:
Price consolidation: Bitcoin trades between $91,700 and $95,850 ahead of Trump's speech.
Speech impact: Trump’s crypto policy updates may trigger a BTC breakout.
Exchange withdrawals: Over $4.7 billion in BTC pulled from exchanges since April 22.
Key resistance: Bitcoin must clear $95K to advance toward $100K.
Detailed Insights:
Market anticipation: Trump’s comments could push Bitcoin to $100K or limit gains.
Betting odds: 24% chance Trump mentions “crypto” or “Bitcoin” in speech.
Supply drop: BTC exchange reserves fall, boosting price sensitivity to demand.
Technical setup: Bitcoin compression signals a likely breakout past $95K.
Future targets: Analysts see $100K next, with $210K forecasted for 2025.
📈#Bitcoin compressing / winding up‼️
$BTC is slowly compressing and making higher lows under 96k resistance. The more attempts into the 95k's the more likely it will push through and the squeeze will likely take it to that sort after 100K level.
I am expecting a bigger pull
— AlphaBTC (@mark_cullen)
3:44 AM • Apr 29, 2025
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BlackRock’s Bitcoin ETF Buys $970M, Boosting Market Support
BlackRock’s Bitcoin ETF inflows surged, adding structural support for Bitcoin’s ongoing price rally.
Nearly *$1bil* into iShares Bitcoin ETF today...
2nd largest inflow since Jan 2024 inception.
I still remember when there was "no demand".
— Nate Geraci (@NateGeraci)
1:39 AM • Apr 29, 2025
Main Points:
Massive purchase: IBIT bought $970M in Bitcoin on April 28.
Market leadership: IBIT now holds 51% of the US spot BTC ETF market share.
Structural support: ETF inflows drive Bitcoin’s recovery above $94K.
Institutional momentum: ETFs fueling majority of new Bitcoin investments.
Detailed Insights:
Major inflow: BlackRock’s second-largest day after $1.12B inflow in Nov 2024.
ETF dominance: IBIT now ranks as the 33rd-largest ETF globally.
Broad impact: US spot BTC ETFs posted $3B net inflows last week.
Retail lagging: Institutional buys offset slow retail demand for Bitcoin.
Outlook: Analysts suggest ETF inflows could fuel further Bitcoin upside.
₿itcoin reached $94,868. -0.18%
♢Ethereum reached $1,827. +0.79%
Investor Dan Tapiero highlights Bitcoin’s early-stage opportunity as China boosts gold demand and crypto adoption remains limited abroad.
It's clear who bought all the gold.
Bitcoin banned in Mainland China, so no other liquid store of value.
How early is it for btc?
2nd largest country in world can't even own it legally.
Europe is hostile to it.
Only one beacon of freedom..
US-crypto capital of the world.
— Dan Tapiero (@DTAPCAP)
5:11 AM • Apr 29, 2025
Main Points:
Gold surge: Chinese gold trading volumes hit record highs in early 2024.
Tariff tensions: US-China trade war fuels global gold investment boom.
BTC banned in China: Gold becomes primary store of value for Chinese investors.
Bitcoin’s US advantage: Tapiero sees the US as the key crypto growth hub.
Detailed Insights:
Gold trading: China’s gold activity surged to 20 million ounces, doubling 2016 levels.
Market driver: Economic uncertainty under Trump spikes global demand for gold.
China’s limits: Bitcoin bans push Chinese investors to load up on gold.
Bitcoin’s future: US remains a rare free market for Bitcoin’s mainstream growth.
Global outlook: Tapiero stresses BTC is still early-stage compared to traditional assets.
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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results