Bitcoin ($BTC) may be inching closer to elusive six-digit levels, but BTC ETF inflows aren’t singing the same tune. BlackRock’s IBIT, the leading public Bitcoin ETF, recorded a staggering $332 million in outflows on Thursday, smashing its previous record of $188 million from December. Ta.
The outflow from IBIT, which has more than $53 billion in net assets, raises questions about the fund’s strategy and the broader implications for Bitcoin, which begins 2025 on a volatile note.
BTC ETF inflow? No, record outflows in a bull market.
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Price movement in the past 7 days
The year is off to a strong start, rising 1.5% in the past 24 hours to near $97,000. After hitting six figures in early 2024, it eased off in December and closed at $94,000.
While IBIT’s record outflows have spooked some, optimism persists elsewhere. Bitcoin-focused ETFs such as Bitwise’s BITB and Fidelity’s FBTC saw inflows of $48 million and $36 million, respectively.
Despite the recent rally, the picture for Bitcoin was mixed at the end of 2024. The recent rally stumbled into a “shooting star” shape on the monthly chart, with a slim body and elongated upper core indicating a decline in buyer momentum. Sellers jumped to the top, suggesting a correction may not be far away.
The CMT Association’s technical guide notes that shooting star patterns often signal the top of a trend, and explains that “the bears may take control.”
#BitcoinElliott Wave Count is not over yet!
The third impulse is always big and can lead to a bigger rise than many people think.
$127,000 is your $BTC goal!
pic.twitter.com/oFR6qLSAXC
— James CryptoGuru (@Jamyies) December 26, 2024
Bitcoin price prediction in 2025
Despite recent volatility, Bitcoin’s outlook for 2025 remains bright. Some predict that shrinking supply and a surge in mainstream adoption could push prices to $185,000 by the end of the year.
“February will be the best-performing month, with the Fed likely to turn dovish in the first quarter, spurring a rally in risk assets like Bitcoin,” said trader Alex Krueger. I predict that it will be very difficult.
Additionally, a surge in corporate treasuries turning to Bitcoin in 2025 could choke supply and cause a price explosion. Publicly traded companies are now ecstatic about Bitcoin, aided by new rules from the Financial Accounting Standards Board (FASB).
Currently, 33 companies have Bitcoin on their books, with MicroStrategy leading the pack with 444,262 BTC. Analysts at 99Bitcoin suggest that this wave of adoption could tighten supply and send Bitcoin soaring to unprecedented price levels.
What does this mean for Bitcoin investors?
BlackRock’s IBIT fund continues to see outflows, but the Bitcoin story is far from over. Short-term fluctuations are to be expected, but the bigger picture will depend on increased institutional investor interest, shrinking supply, and unpredictable trends in the global economy.
For those who hold out until 2025, the signs of growth are hard to ignore.
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