Core Insights - The estimated annual fee for BlackRock's iShares Bitcoin Trust ETF reaches $187 million, surpassing the revenue generated by the company's iShares Core S&P 500 ETF [1] Group 1 - The iShares Bitcoin Trust ETF is projected to incur significant annual fees of $187 million [1] - This fee amount exceeds the revenue from the iShares Core S&P 500 ETF, indicating a shift in revenue dynamics within BlackRock's ETF offerings [1]

Group 1 - The estimated annual fee for BlackRock's iShares Bitcoin Trust ETF reaches $187.2 million, surpassing the revenue generated by the iShares Core S&P 500 ETF [1]

Core Viewpoint - The cryptocurrency sector in the U.S. stock market is experiencing a pre-market decline, primarily influenced by the downward trend of Bitcoin [1] Group 1: Market Performance - Coinbase (COIN.O) shares fell by 2.1% [1] - Strategy's stock decreased by 2.5% [1] - Riot Platforms saw a decline of 3.9% [1] - HUT 8 Mining dropped by 2.7% [1] - MARA Holdings experienced a 3.7% decrease [1] - Cleanspark's shares fell by 3% [1] - Both ProShares Bitcoin Strategy ETF and iShares Bitcoin Trust ETF declined by 2% [1] Group 2: Bitcoin Price Impact - The overall decline in the cryptocurrency sector is attributed to the falling price of Bitcoin against the U.S. dollar [1]

Core Viewpoint - Bitcoin is potentially entering a parabolic uptrend phase, supported by historical price cycles and technical indicators, suggesting further upward movement before reaching a peak around October 2025 [1][5][6] Bitcoin Price Cycle Analysis - Historical data indicates that previous Bitcoin cycles lasted approximately 1064 days, with the current cycle expected to reach this duration by October 2025, implying room for price increases [1] - The price trend from April to May shows a clear upward movement, with the RSI breaking above 50, indicating a new bullish trend [1] - The MACD is nearing a bullish crossover, which would further confirm the establishment of a new upward trend [1] Technical Patterns - Bitcoin appears to be breaking out of a bullish flag pattern, with the historical high of $109,000 serving as a critical resistance level [2] - The potential for a price pullback before testing the $109,000 level is noted, indicating market volatility [2] Economic Influences - The finalization of trade agreements could positively impact the stock market and, consequently, Bitcoin prices, as market uncertainties diminish [2] - Anticipation of a potential rate cut by the Federal Reserve could enhance market liquidity, benefiting both Bitcoin and stock markets, although this depends on upcoming inflation data [2][4] Price Target and Projections - The expected peak price for Bitcoin in this cycle is projected to be around $150,000, based on Fibonacci levels, which is ten times the cycle's bottom price of $15,000 [5] - The parabolic uptrend phase is expected to last approximately six months, potentially starting in April and continuing until September 2025 [5][6]