According to Farside Investors, BlackRock, the world’s largest asset manager, has shown significant interest in Bitcoin (BTC) through its ETF, IBIT. On April 15, BlackRock purchased $38.2 million worth of BTC, following another sizable purchase of $36.7 million on April 14. These back-to-back acquisitions totaled $74.9 million in just two days, reflecting the firm’s growing confidence in the cryptocurrency market.
Notably, BTC’s price experienced a rally on both days, suggesting that BlackRock’s buying spree may have contributed to increased market activity and investor confidence. This move highlights the increasing institutional adoption of digital assets like Bitcoin.
Bitcoin Rebounds Following BlackRock’s Major Investment
BTC’s price dropped below $75,000 during this month’s market crash, likely triggered by the US imposing tariffs on several trade partners. However, the cryptocurrency rebounded after President Trump announced a 90-day tariff pause for all countries except China.
Currently, BTC is down 1.7% on the daily charts and 0.9% on the 14-day charts. Despite the recent dip, it remains up 8.8% for the week, 0.9% for the month, and 34.2% since April 2024.
BlackRock’s $74.9 million BTC purchase may have contributed to Bitcoin’s recovery. Adding to the optimism, the US Senate has confirmed Paul Atkins as the new SEC chair, sparking hope among crypto investors for a more lenient stance on the industry.
Meanwhile, US inflation has eased more than anticipated, raising speculation that the Federal Reserve might announce an interest rate cut soon. Such a move could further drive Bitcoin’s (BTC) price upward.
Will Bitcoin Break Its All-Time High Again?
Bitcoin (BTC) reached a record high of $108,786 on January 19 but has since declined by nearly 23%. Despite ongoing global economic challenges, BTC continues to demonstrate remarkable stability and resilience.
According to OvenAdd, Bitcoin is expected to see steady growth in the coming months, driven by increasing adoption and market demand. Analysts predict that Bitcoin could hit an impressive $110,000 by the end of May 2025, with a potential trading price of $110,736 on May 31.
CoinCodex predicts that BTC could reach a new all-time high later this month, potentially trading at $126,612 by April 25—a 50.69% increase from its current price. However, the platform expects BTC to struggle to stay above $120,000, forecasting a drop below $100,000 by the end of May.
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