Even with the early hiccups in the new year, IBIT had a solid run in 2024, pulling in a total of $37.2 billion in inflows. BlackRock’s Ethereum ETF (ETHA) also had some serious investor interest, raking in $3.53 billion during the same time.
As of now, BlackRock has about 548,505 BTC worth $52.81 billion and around 1,071,415 ETH worth $3.68 billion.
There’s an outlook for Bitcoin, that now there is an attempt to form a classic visual pattern “head-shoulders,” which will be activated at the breakdown of the neckline — around $92,000.
If that happens, from here we can expect a deep correction to the area of $80,000-$70,000. This will mark a 30% decline from the relevant all-time high for BTC, which is a healthy textbook correction needed for continuation of the upward trajectory.
This article was originally published on U.Today
