BlackRock’s Bitcoin ETF Surge Fuels Institutional Optimism

BlackRock’s iShares Bitcoin Trust (IBIT) is capturing significant attention with a reported daily inflow of $240.1 million, part of a broader $2.8 billion net inflow into U.S. spot Bitcoin ETFs over the past five trading days. This surge in institutional investment has pushed Bitcoin’s price from around $85,000 to approximately $94,000. The development comes on the heels of IBIT being honored as the “Best New ETF” at the annual etf.com awards on April 23, 2025, reinforcing its growing stature among investors during a period of market volatility. Complementary market analysis by CryptoQuant suggests that Bitcoin is establishing a new support level at around $90,000, with technical indicators such as an upward-trending 20-day exponential moving average and an RSI nearing the overbought zone underscoring strong bullish momentum. While the primary focus is on Bitcoin’s institutional validation, mentions of altcoins such as XRP—hinting at a potential move to $3—and Cardano (ADA) at key technical crossroads indicate a broader market interest that could influence altcoin performance indirectly.