TLDR
- BlackRock’s IBIT made history with a massive 5,250 BTC purchase, showcasing growing institutional confidence in cryptocurrency
- Bitcoin surpassed and maintained the $100,000 level with strong market fundamentals and reduced exchange supply
- The ETF market is becoming increasingly competitive with BlackRock’s expansion into Canada and Fidelity’s fee adjustments
- On-chain metrics show Bitcoin exchange balances at the lowest point since 2018, indicating strong holding behavior
- Market liquidations reached $90 million as Bitcoin’s price movement triggered substantial short squeezes
The cryptocurrency market witnessed a historic moment as BlackRock’s iShares Bitcoin Trust (IBIT) executed a remarkable purchase of 5,250 Bitcoin, valued at $528 million. This single-day acquisition, completed on Thursday, represents an amount equivalent to twelve days of Bitcoin mining production.
Bitcoin’s price movement reflected the strength of institutional demand, maintaining levels above $100,000 and reaching $101,334. The cryptocurrency’s total market value pushed beyond $2 trillion, establishing a new benchmark in the digital asset space.
The day’s trading activity highlighted IBIT’s market dominance, as BlackRock’s product captured 85% of the total $626 million in Bitcoin ETF inflows. This impressive performance placed IBIT well ahead of its competitors, with Ark Invest’s ARKB securing second position with $155 million in inflows.
BlackRock’s recent expansion into the Canadian market through a CBOE-listed Bitcoin ETF variant demonstrates the growing global reach of institutional cryptocurrency products. This move sparked immediate competitive responses, including Fidelity’s decision to match BlackRock’s 32 basis point fee structure for its Canadian Bitcoin ETF.
The rapid growth of IBIT since its 2025 launch has resulted in $55.691 billion in net assets under management. This achievement is particularly noteworthy when compared to traditional investment vehicles, as BlackRock’s gold ETF required twenty years to reach comparable assets under management.
Market dynamics showed strength across multiple indicators, with Bitcoin recording an 8% weekly gain. The upward price movement triggered substantial liquidations, with $50 million in short positions being closed out of the total $90 million in market-wide liquidations.
On-chain analysis reveals a compelling supply narrative, as Bitcoin holdings on exchanges dropped to levels not seen since 2018. This reduction in available exchange supply typically indicates strong holder conviction and could support sustained price appreciation.
The technical landscape suggests that while Bitcoin has established support above $100,000, the $102,500 level remains a key threshold for confirming continuation of the uptrend. Market participants are closely monitoring this level for signs of further momentum.

Trading patterns demonstrate robust support above both $100,500 and the 100-hour Simple Moving Average, suggesting healthy market structure. The steady flow of institutional capital through ETF products continues to impact available market supply.
The derivatives market shows maturity with a balanced distribution of long and short positions, indicating a well-functioning market environment. This equilibrium supports stable price discovery and reduced volatility.
BlackRock’s strategic expansion into Canada represents a broader trend of institutional adoption. The move highlights growing demand for regulated cryptocurrency investment products across multiple jurisdictions.
Market conditions have been supported by favorable macroeconomic data, including December’s decreased core CPI figures. These external factors have contributed to the positive environment for Bitcoin price action.
Price levels show immediate resistance at $102,000 and $102,500, while support has formed at $100,500 and $100,000. These levels provide clear reference points for market participants.
The relationship between spot and derivatives markets continues to evolve, with institutional participation driving increased market efficiency and depth. Trading volumes remain healthy across both markets.
ETF competition has intensified following BlackRock’s expansion, with multiple providers adjusting their strategies to maintain market share. This competition benefits investors through improved products and reduced fees.
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