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BlackRock's iShares Bitcoin Trust Growth: BlackRock’s iShares Bitcoin Trust (IBIT) has reached a record $91.06 billion in assets under management, solidifying its dominance in the U.S. spot Bitcoin ETF market with significant investor interest despite recent price drops in Bitcoin.
Market Reaction to Inflation Data: Following optimistic expectations of an interest rate cut by the Federal Reserve, Bitcoin's price surged but then plummeted below $118,000 due to unexpectedly high inflation data, leading to over $1 billion in liquidations across the crypto market, although IBIT continued to attract long-term investors.
