{"id":483448,"date":"2022-08-11T17:15:09","date_gmt":"2022-08-11T14:15:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/blackrock-bitcoin-fund-launch-sends-btc-price-towards-25k\/"},"modified":"2022-08-11T17:15:09","modified_gmt":"2022-08-11T14:15:09","slug":"blackrock-bitcoin-fund-launch-sends-btc-price-towards-25k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/blackrock-bitcoin-fund-launch-sends-btc-price-towards-25k\/","title":{"rendered":"# BlackRock Bitcoin fund launch sends BTC price towards $25K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25717e171cd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25717e171cd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/blackrock-bitcoin-fund-launch-sends-btc-price-towards-25k\/#%E2%80%9D_BlackRock_Bitcoin_fund_launch_sends_BTC_price_towards_25K_%E2%80%9C\" >&#8221; BlackRock Bitcoin fund launch sends BTC price towards $25K &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/blackrock-bitcoin-fund-launch-sends-btc-price-towards-25k\/#Silbert_on_BlackRock_%E2%80%9CHere_comes_Wall_Street%E2%80%9D\" >Silbert on BlackRock: &#8220;Here comes Wall Street&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/blackrock-bitcoin-fund-launch-sends-btc-price-towards-25k\/#June_futures_gap_comes_into_play\" >June futures gap comes into play<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BlackRock_Bitcoin_fund_launch_sends_BTC_price_towards_25K_%E2%80%9C\"><\/span>&#8221; BlackRock Bitcoin fund launch sends BTC price towards $25K &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Bitcoin (BTC) continued toward $25,000 on the Aug. 11 Wall Street open amid <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> that the world&#8217;s largest asset manager had launched a BTC product.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/49cb83a4-355b-4bce-9129-2d18eebc8b9b.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Silbert_on_BlackRock_%E2%80%9CHere_comes_Wall_Street%E2%80%9D\"><\/span>Silbert on BlackRock: &#8220;Here comes Wall Street&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0followed BTC\/USD as it spike to $24,921 on Bitstamp as United States stocks trading got underway.<\/p>\n<p>While going on to consolidate slightly below the highs, the pair inspired confidence in market sentiment, with popular crypto industry figures already seeing positive implications of the BlackRock move.<\/p>\n<p>&#8220;Here comes Wall Street&#8230;,&#8221; former Grayscale CEO, Barry Silbert, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BarrySilbert\/status\/1557713186006220801\">responded<\/a>.<\/p>\n<p>For Blockware lead insights analyst, William Clemente, however, the news was a landmark event in Bitcoin&#8217;s history.<\/p>\n<p>&#8220;Last comment on the matter: Think the Blackrock news is probably the most bullish news for a long term Bitcoin holder ever,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1557723939366895617\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers. <\/p>\n<blockquote><p>&#8220;Not just the news itself, but that it signals to some the water is fine and to others if they don\u2019t offer their clients BTC they\u2019ll get their lunch ate.&#8221;<\/p><\/blockquote>\n<p>BlackRock&#8217;s CEO, Larry Fink, had described Bitcoin just five years earlier as an &#8220;index of money laundering.&#8221; He had <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to change his tune by 2020, acknowledging the largest cryptocurrency&#8217;s potential to become a &#8220;global market.&#8221;<\/p>\n<p>BlackRock&#8217;s offering would take the form of a spot Bitcoin private trust, it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.blackrock.com\/institutions\/en-us\/insights\/bitcoin-private-trust\">confirmed<\/a> in a statement.<\/p>\n<p>&#8220;The trust is available to U.S. institutional clients and seeks to track the performance of bitcoin, less expenses and liabilities of the trust,&#8221; it read. <\/p>\n<blockquote><p>&#8220;Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and product capabilities.&#8221;<\/p><\/blockquote>\n<p>As Cointelegraph reported, the firm&#8217;s initial foray into Bitcoin this month came via a partnership with U.S. exchange Coinbase.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"June_futures_gap_comes_into_play\"><\/span>June futures gap comes into play<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Turning to potential short-term price targets, the mood among commentators was thus flexible if still not outright bullish.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin battles 2-month resistance amid \u2018most hated\u2019 stocks rally<\/em><\/strong><\/p>\n<p>For on-chain monitoring resource Whalemap, potential upside and downside remained considerable, with $20,000 still not safe as a floor.<\/p>\n<p>&#8220;$BTC is breaking out of an ascending triangle on low volatility meaning we should be expecting a big move soon enough,&#8221; the Whalemap team\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/whale_map\/status\/1557720429191581696\">revealed<\/a> alongside a chart showing relevant levels. <\/p>\n<blockquote><p>&#8220;Holding up to the break out is the number one priority where the realistic targets would be 27\u201329k above or 19k below in case we don&#8217;t hold.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/whale_map\/status\/1557720429191581696\/photo\/1\"><\/a><\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/656ea12f-d7ee-4014-b50d-fda5db3de76b.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin levels annotated chart. Source: Whalemap\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Popular Twitter account Altcoin Bets meanwhile <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AltstreetBet\/status\/1557714272414666752\">added<\/a> that &#8220;as long as we stay above 24k on daily, we should reach for 28k CME gap,&#8221; referring to a void in the CME Bitcoin futures chart, which often acts as a spot price magnet.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/caff7860-d8e5-4ebf-852a-ae3063cdf66e.png\"><figcaption style=\"text-align: center;\"><em>CME Bitcoin futures 1-day candle chart with nearest &#8220;gap&#8221; highlighted. Source: TradingView<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/blackrock-bitcoin-fund-launch-sends-btc-price-towards-25k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BlackRock Bitcoin fund launch sends BTC price towards $25K &#8220; Bitcoin (BTC) continued toward $25,000 on the Aug. 11 Wall Street open amid news that the world&#8217;s largest asset manager had launched a BTC product. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Silbert on BlackRock: &#8220;Here comes Wall Street&#8221; Data from Cointelegraph Markets Pro&#8230;<\/p>\n","protected":false},"author":1,"featured_media":483449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvMDcyODQ0ZjktZTliZC00N2NjLTk2YmYtMzY3YTViZjIzZTRjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785,68637],"class_list":["post-483448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/483448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=483448"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/483448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/483449"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=483448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=483448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=483448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}