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Bitcoin above $91K: amid rising inflation and record-breaking Blackrock
By Daniele Corno
Inflation rises, a new boost for Bitcoin, which breaks $91k as Blackrock's IBIT continues its RECORD climb
Bitcoin is “ON FIRE”
It has only been 7 days since the election of Donald Trump, but market strength does not tend to diminish.
Bitcoin flies and also breaks the psychological threshold of $90,000, the price level that has contained the price expansion in the last 48 hours. The latest data released, related toU.S. inflation show a reversed trend.
After a downward movement that began in March 2024, for the first time inflation shows signs of growth, with a figure of 2.6 percent, up from August and September levels of 2.5 percent and 2.4 percent, respectively.
The latter figure provided a further boost to Bitcoin, which again, is in price discovery, looking for a new price high, on its way to the true psychological level, that of $100,000.
Record-breaking ETFs support Bitcoin's growth
New highs? No matter, investors continue to buy ruthlessly.
Volumes continue to grow, as do the influences on investment products, which continually mark new RECORDS. In the first two days of the current week, there are over $2 billion inflows on ETFs. Blackrock obviously dominates, garnering over 75% of inflows, setting new RECORDS.
In fact,IBIT, with an AUM close to $42 billion as of yesterday,ranks 39th on the list of the 100 largest ETFs in the world.
Awaiting the next psychological threshold, that of the famous “Laser Eyes” or $100,000, Bitcoin marks on the weekly chart a +13%, up more than $10,000 from Sunday night’s prices.
With this appreciation, Bitcoin is also the seventh largest asset in the world by capitalization, surpassing Saudi Aramco and putting Alphabet (Google) in its sights.
