BlackRock’s IBIT wallets accumulated 3,441.176 BTC worth $276.7 million from Coinbase Prime over the past 24 hours. The fund purchased $397 million in Bitcoin between October 26 and 28, indicating sustained inflows despite market weakness. Overall, funds recorded $137 million in daily net inflows, with BlackRock accounting for most of them, while Bitcoin withdrawals from exchanges pointed to accumulation. Bitcoin nevertheless fluctuated between $79,000 and $81,000 after its move toward $84,900 failed, and institutional demand from the United States remained weak. Continued purchases by BlackRock could help Bitcoin defend $80,000 and target $84,000, but persistently weak institutional demand could instead push it down to $76,000.
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