BlackRock’s Bitcoin ETF Gobbles $43B—BTC Shatters $97K as Wall Street Plays Catch-Up
Institutional money floods crypto as BlackRock’s ETF becomes a $43 billion behemoth—proving even suits can’t ignore digital gold.
Bitcoin laughs at ’overbought’ warnings, punching through $97K like a Wall Street analyst’s spreadsheet model.
Meanwhile, traditional finance still argues about ’intrinsic value’ while the smart money stacks sats.
Push or Squeeze?
Thanks to the increasing investor optimism, Bitcoin touched a local high of $97,437 on May 1.
The strong push triggered $88 million in BTC liquidations — $9 million longs and $79 million shorts, according to data from CoinGlass. Dominant short liquidations usually suggest the expectations of a further price rally.
Moreover, CoinGlass data shows that the total crypto open interest increased by 5.2%, reaching $123.8 billion. The indicator suggests that traders are leaning toward the volatile digital asset class.
When OI increases, high price volatilities become the norm and usually hint at a potential market-wide hike.
Bitcoin’s decentralized finance sector could also grow with the latest developments from the SUI network. This can act as a fundamental catalyst for the digital gold.
nextBlackRock’s ETF Inflows Surpass $43B, Bitcoin (BTC) Price Breaks $97K
