DeFi News Daily Official TheBitTimes.com

Bitcoin has soared to a new all-time high (ATH), vaulting past tech giants Google and Amazon in market cap amid surging institutional demand, led by BlackRock’s Bitcoin ETF. BTC soared to a record peak of $111,861.22, but has since retraced to trade at $110,732.10 as of 10:41 a.m. EST.  The recent surge in the BTC price not only saw the total crypto market capitalization rise over 4% to above $3.5 trillion, it also saw Bitcoin’s total valuation surpass that of Amazon and Google.  Bitcoin’s current market cap stands at over $2.2 trillion, taking it ahead of Google’s $2.05 trillion and Amazon’s $2.13 trillion, according to Companiesmarketcap. BlackRock Bitcoin ETF Posts Highest Inflows In 2 Weeks Bitcoin’s new ATH came as spot Bitcoin ETFs (exchange-traded funds) recorded $607.1 million in net daily inflows on May 21, data from Farside Investors shows.  BlackRock’s Bitcoin ETF, which is the leader in terms of cumulative ...

BlackRock’s IBIT Bitcoin ETF saw a record $332 million net outflow on Thursday, the largest since its launch a year ago. BlackRock’s iShares Bitcoin Trust ETF (IBIT), which holds over $53 billion in net assets, reported $332.6 million in net outflows on January 3, exceeding the previous record of $188.7 million in net outflows that happened on Christmas Eve. BlackRock's IBIT ETF saw a record outflow after a banner year — a net $333M left it on Jan. 2 amid on a third consecutive day of outflows. Its longest losing streak is not necessarily alarming, as it could have been due to portfolio rebalancing or profit taking. #Bitcoin #crypto — EarnBIT (@Earnbit2) January 3, 2025 IBIT experienced $2.26 billion in trading volume yesterday, based on SoSoValue data. Neal Wen, the Head of Global Business Development at Kronos Research, said that investors “often rebalance their portfolios to align with asset allocation targets.” “The large outflows fro...