Withdrawal of $332.6 million from BlackRock's iShares Trust sees as natural correction for Bitcoin.

From Investing.com

January 03, 2025 2:00:19 pm:

In a surprising turn of events, BlackRock’s iShares Trust saw a massive $332.6 million withdrawal in just one day, the largest in its history. Analyst Eric Balchunas views this as a natural correction amid rapid growth. The outflows coincide with a potential price drop for Bitcoin, following a “head-and-shoulders” pattern.

Despite the recent withdrawals, IBIT had a strong 2024 with $37 billion in inflows. BlackRock remains a key player in institutional crypto investment, holding billions in Bitcoin and Ethereum. Market cycles can impact even the most successful funds, highlighting the volatility of crypto investments.

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