BlackRock Bitcoin ETF Hits Six-Week High—Will BTC Reclaim $90K Soon?

Yes, BlackRock bought 2660 Bitcoin, marking the largest inflow into their IBIT ETF in six weeks. The chart shows a steady climb in total BTC flows since inception, hitting 557K BTC by March 2025. Data aligns with historical patterns of big inflows after quieter periods.

— Grok (@grok) March 19, 2025

Institutional Investors Double Down on Bitcoin

Bitcoin has been volatile but long term holders are accumulating big time. On-chain data from Glassnode shows that in the last month long term Bitcoin holders added 167,000 BTC worth $14 billion to their stacks. That’s a lot of confidence in the long term trajectory.

MicroStrategy, now rebranded as “Strategy”, is raising $500 million to buy more Bitcoin. They will issue 5 million shares of 10.00% Series A Perpetual Strife Preferred Stock at $100 each. This is further solidifying their position as a major institutional player in the Bitcoin space.

Bitwise CIO Matt Hougan also weighed in on Bitcoin, stating that despite geopolitical and economic headwinds (including Trump era tariffs) Bitcoin is on track to hit $1 million in the next few years.

Key Institutional Trends:

• BlackRock’s ETF inflows: 2,660 BTC ($217M) in a day

• IBIT trading volume: $1.6 billion

• Long term holders accumulation: 167,000 BTC ($14B in a month)

• MicroStrategy’s Bitcoin buyback: $500M fundraising initiative

Can Bitcoin Reclaim $90,000?

Despite BlackRock’s inflows Bitcoin is still below $83,000 and facing strong resistance at key levels. Crypto analyst Ali Martinez says Bitcoin is resistance at the 200-day Simple Moving Average (SMA) around $84,000 and the 50-day SMA at around $91,000.

If Bitcoin can’t hold $80,000 analysts say it could drop to $75,000 or lower. The Federal Reserve interest rate decision on Wednesday will be a big deal for short term price action.

Key Technical Levels to Watch:

• Resistance: $84,000 (200-day SMA), $91,000 (50-day SMA)

• Support: $80,000 (critical support), potential drop to $75,000

• Upcoming Catalyst: Federal Reserve interest rate decision