BlackRock has extended its Bitcoin accumulation streak, purchasing another $250 million worth of BTC on June 17. The asset manager now holds a staggering $70.63 billion in Bitcoin, according to on-chain data.
This marks the sixth consecutive day of BTC accumulation by the firm and reinforces the ongoing institutional shift into crypto. BlackRock’s total inflows have reached $1.4 billion, with broader ETF momentum pushing the U.S. Bitcoin ETF market cap above $133 billion.
ETF Market Captures 23% of Global BTC Volume
The rapid growth in ETF assets reflects increasing investor appetite. As of June 18, Bitcoin ETFs account for nearly 22.98% of global spot volume, up sharply from 13.2% just one year ago. This signals accelerating mainstream adoption, driven largely by institutions and regulated investment products.
The ETF-driven surge has become a primary force in Bitcoin price movements and long-term valuation support.
BTC Price Sees Bump, but Volatility Persists
In response to BlackRock’s latest buy, Bitcoin briefly rose above $105,500, though it quickly retraced and is currently trading near $104,830. Despite the recent pullback from this week’s high of $109,714, market participants remain optimistic due to strong institutional demand.
Competitor firms like Saylor Strategy now hold over 590,000 BTC, signaling that major players continue to accumulate on dips.
Geopolitical Risks and Fed Caution Weigh on Market
Bitcoin’s short-term volatility remains high, largely driven by macroeconomic and geopolitical uncertainties. Prices dipped to $102,822 following a June 17 warning to Iran by President Trump, further illustrating the asset’s sensitivity to global developments.
The market is also bracing for outcomes from the FOMC meeting, where clarity on potential rate cuts could drive further price action.
Analysts suggest that Bitcoin is currently range-bound, as investors await clearer guidance on both Federal Reserve policy and international tensions.
Conclusion: Institutions Double Down Despite Noise
BlackRock’s persistent accumulation highlights the growing confidence among institutional investors in Bitcoin’s long-term value. While short-term price action remains choppy, the sustained inflows into Bitcoin ETFs suggest a strong foundational demand base that could drive future price appreciation.
As regulatory clarity improves and monetary easing potentially resumes, Bitcoin is poised to benefit—especially if capital continues rotating from traditional markets into digital assets.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss