Surprise BlackRock ‘Tipping Point’ Predicted to Send Bitcoin Price to $200,000

On By Littum

Bitcoin has hit a new all-time high, surging higher after traders braced for a BlackRock Exchange-traded Fund (ETF) price shock.

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The bitcoin price surged to just over $94,000 per bitcoin, up 150% since this time last year, after BlackRock’s spot bitcoin ETF recorded “unheard of” volumes on its first day of options trading and Tesla billionaire Elon Musk issued a surprise crypto- approval.

Now, as a top Federal Reserve official suddenly returns to bitcoin, analysts have predicted that a bitcoin price “tipping point” could be about to send bitcoin to $200,000.

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“The final tally of IBIT’s first day of options left just $1.9 billion in notional exposure traded via 354,000 contracts,” Bloomberg Intelligence analyst James Seyffart submitted to X. “These opportunities were almost certainly part of the transition to the new bitcoin all-time highs today.”

Bitcoin spot ETFs have risen to become some of the fastest-growing ETFs ever after debuting in January, led by BlackRock’s $42 billion bitcoin fund.

Fellow Bloomberg Intelligence analyst Eric Balchunas added that “$1.9 billion is unheard of” for the first day of trading after earlier narrator Yahoo Finance a bitcoin may be on the verge of a price “tipping point”.

“There may come a point where advisers decide, ‘I have to have it to avoid getting fired’ versus ‘I don’t want to buy it and piss off my client for having a stupid bitcoin ETF,'” Balchunas said, predicting a “tipping point” could spark a new wave of mainstream crypto adoption.

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Forbes‘Huge Things Coming’ – Bitcoin Suddenly Explodes as Secret ‘Nation-State’ Adoption Mystery Rumors Fuel Crypto Price BoomBy Billy Bambrough

This turning point could bring the bitcoin price to $200,000 by 2025, according to analysts at brokerage Bernstein.

“We are entering a phase where we expect intrigue to turn into pain for the bitcoin bears,” analysts led by Gautam Chhugani said in a Monday note to clients seen by The block. “Bitcoin at $100,000 seems to be around the corner and our $200,000 bitcoin goal (by the end of) 2025 doesn’t look so delusional now.”