BlackRock has cut the in-kind conversion threshold for its Bitcoin ETF IBIT by 96%, reducing it from $25 million to $1 million to enable greater institutional and accredited investor participation. Bitcoin is down roughly 30% from its year-start level, yet spot Bitcoin ETFs recorded their strongest inflow week since mid-April at $853 million, with IBIT alone attracting $693-854 million and adding over 9,000 BTC. Roughly 80% of the $90 billion in crypto futures open interest came from unregulated perpetual contracts, whose unwinding amplified the correction from October’s $126,000 peak. BTC is currently consolidating in a tight band between $63,200 and $65,340, with institutional buying supporting the $63,200 support level.
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