Bitcoin ($BTC) may be closing in on the elusive six-digit mark, but BTC ETF inflows aren’t singing the same tune. BlackRock’s IBIT, the heavyweight among public Bitcoin ETFs, recorded a staggering $332 million in outflows on Thursday, beating its previous record of $188 million from December.
With more than $53 billion in net assets, IBIT’s outflows raise questions about the fund’s strategy and the broader implications for Bitcoin as it begins 2025 on a volatile note.
BTC ETF Entries? No, record capital outflows in a bull market
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stands at less than $97,000, up 1.5% in the last 24 hours, extending a strong start to the year. After surpassing six figures earlier in 2024, it cooled in December, closing at $94,000.
Although IBIT’s record outflows have spooked some, optimism is alive elsewhere. Bitcoin-focused ETFs like Bitwise’s BITB and Fidelity’s FBTC generated $48 million and $36 million in inflows, respectively.
Despite recent gains, the end of 2024 delivered a mixed bag for Bitcoin. Its recent rally resulted in a “shooting star” formation on the monthly chart, where a thin body and extended upper wick signaled a decline in buyer momentum. Sellers stepped in at the top, hinting that a correction may not be far away.
“The bears potentially have control,” explains the CMT Association‘s technical guide, referring to how shooting star patterns often mark the peak of a trend.
#Bitcoin Elliot Wave Count isn’t over yet!
The 3rd impulse is always more important, we can expect a greater upward movement than many think!
$127,000 would be the goal for $BTC!
pic.twitter.com/oFR6qLSAXC
– James CryptoGuru (@Jamyies) December 26, 2024
Bitcoin Price Forecast for 2025
Even with the recent volatility, Bitcoin’s outlook for 2025 remains bright. Some predict it could reach $185,000 before the end of the year, boosted by dwindling supply and increasing mainstream adoption.
Trader Alex Kruger predicts: “February will be the best performing month, with the Fed likely to become dovish in the first quarter, boosting risk assets like Bitcoin. »
Additionally, an increase in corporate treasuries turning to Bitcoin in 2025 could choke off supply and trigger a price explosion. Public companies, now supported by new rules from the Financial Accounting Standards Board (FASB), are relishing the appeal of Bitcoin.
Thirty-three companies currently hold Bitcoin on their books, with MicroStrategy dominating the rest with 444,262 BTC. Analysts at 99Bitcoin suggest that this wave of adoption could reduce supply to such an extent that it would propel Bitcoin to uncharted price levels.
What does this mean for Bitcoin investors?
BlackRock’s IBIT fund is bleeding outflows, but the Bitcoin narrative is far from collapsing. Short-term fluctuations are expected, but the larger play is determined by growing institutional interest, dwindling supply and the unpredictable tides of the global economy.
For those waiting until 2025, the signs are hard to ignore: growth is in the air.
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The article BTC Genesis Day 2025: what is happening with Bitcoin? Are Bitcoin ETFs selling out? appeared first on 99Bitcoins.
