BlackRock's IBIT Bitcoin ETF Sees Record $2.7 Billion Exodus

Group 1 - BlackRock Inc. is experiencing significant withdrawals from its iShares Bitcoin Trust, totaling over $2.7 billion in five consecutive weeks, marking the longest outflow stretch since the fund's launch in January 2024 [1][2]. - The outflows follow a substantial correction in Bitcoin's value, which saw over $1 trillion wiped from the cryptocurrency market in October [2][3]. - The iShares Bitcoin Trust, with over $71 billion in assets, has been a crucial vehicle for institutional investment, making the recent reversal in flows particularly noteworthy [3]. Group 2 - Blockchain analytics firm Glassnode indicated that the current pullback signifies a shift away from the strong inflow regime that previously supported Bitcoin's price [4]. - The technical structure of the iShares Bitcoin Trust has weakened, as it has fallen below a rising trendline that previously provided support, indicating a significant change in market dynamics [5][6]. - The price analysis shows that the iShares Bitcoin Trust is currently trading below major exponential moving averages, with a recent rebound appearing to be an oversold reaction rather than a confirmed reversal [5][8]. Group 3 - The $47–$48 price range has served as a temporary support base, but a failure to maintain this level could lead to further declines towards the broader support range of $44–$45 [7]. - BlackRock Inc.'s shares have shown some recovery from October lows but are now facing key Fibonacci resistance levels, with the $1,073–$1,075 area being a significant hurdle [9][10]. - The resistance cluster between $1,100 and $1,127 corresponds with a previous breakdown zone, indicating potential challenges for the stock's upward momentum [10].