Bitcoin Price Hits New Record High 🚀💰

Bitcoin Hits New All-Time High as BlackRock and Fidelity Accumulate BTC

Bitcoin has once again reached a new all-time high, surpassing $69,000. However, it is still struggling to break through the resistance at the $69,000 level. At the time of publishing, Bitcoin is priced at $68,357, showing a 1.6% increase in the last 24 hours.

Institutional Investors Accumulating Bitcoin

Institutional investors are continuing to show their confidence in Bitcoin, with BlackRock and Fidelity recently purchasing significant amounts of BTC for their clients:

BlackRock has bought at least $12.3 billion worth of BTC on behalf of its clients. On Wednesday, they received their highest-ever one-day inflow of 12.6K BTC ($842 million), bringing their total holdings to 183.3K BTC ($12.3 billion).
Fidelity is now the sixth-largest Bitcoin holder in Arkham Intelligence’s database. They currently hold over $12.3 billion worth of Bitcoin and provide custody services for clients such as Microstrategy and various trading firms.

No Leverage for Bitcoin ETFs Yet

While Bitcoin exchange-traded funds (ETFs) have gained significant popularity, leverage options for these ETFs will not be available in the near future:

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on two requests to add options to spot Bitcoin ETFs. The agency will have another opportunity to approve or further delay these requests on April 24th.

Hot Take: Bitcoin Breaks All-Time High Amidst Institutional Accumulation

Bitcoin has hit a new all-time high, reaching over $69,000. However, it is facing resistance at this level and currently priced at $68,357. Institutional investors such as BlackRock and Fidelity have been accumulating significant amounts of BTC on behalf of their clients, with each firm purchasing at least $12.3 billion worth of Bitcoin.

Institutional Accumulation of Bitcoin

BlackRock and Fidelity have recently made substantial investments in Bitcoin:

BlackRock purchased at least $12.3 billion worth of BTC for its clients. They experienced their highest-ever one-day inflow on Wednesday, receiving 12.6K BTC ($842 million). In total, they now hold 183.3K BTC ($12.3 billion).
Fidelity is now the sixth-largest holder of Bitcoin according to Arkham Intelligence’s database. They currently hold over $12.3 billion worth of BTC and provide custody services for clients such as Microstrategy and various trading firms.

No Leverage for Bitcoin ETFs

The SEC has delayed its decision on adding options to spot Bitcoin ETFs, which means leverage options will not be available for these ETFs in the near future.

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