BlackRock has increased its stake in its own IBIT Bitcoin ETF, with its holdings now worth over $77 million. This comes at a time of high activity in Bitcoin ETFs, although Bitcoin's price has dropped below $93,000. Despite this, BlackRock's IBIT has seen inflows of $267 million, while other major Bitcoin ETFs have experienced significant outflows. Long-term Bitcoin holders have been selling their positions, with around 128,000 Bitcoins sold since late October. Bitcoin is currently facing bearish pressure, with its price near a critical support level. A breach of this level could lead to a test of the 100-day Simple Moving Average on the 4-hour chart.



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