Bitcoin (BTC) may be approaching the elusive six-figure mark, but Bitcoin ETF flows are not singing the same tune. BlackRock’s IBIT, a heavyweight among public Bitcoin ETFs, posted a staggering $332 million in outflows on Thursday, breaking the previous record of $188 million set in December.
With over $53 billion in net assets, IBIT’s outflows raise questions about the fund’s strategy and the broader implications for Bitcoin as 2025 begins on a volatile note.
BTC ETF flows? No, record outflows in the middle of a bull market
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It sits near $97,000, up 1.5% over the past 24 hours, marking a strong start to the year. After surpassing six figures earlier in 2024, it retreated in December, closing at $94,000.
Although record IBIT outflows have spooked some, optimism remains alive elsewhere. Bitcoin-focused ETFs, such as BITB from Bitwise and FBTC from Fidelity, attracted inflows of $48 million and $36 million, respectively.
Despite the recent gains, the end of 2024 presented a mixed bag for Bitcoin. Its recent rally has faltered in a “shooting star” formation on the monthly chart, where a thin body and extended upper wick indicate fading Jupiter’s momentum. Sellers intervened at the top, hinting that a correction may not be far away.
“It’s possible that the bears are in control,” he explains CMT AssociationTechnical guide, which points out how shooting star patterns often mark the top of a trend.
#Bitcoin The Elliott wave count is not over yet!
The third impulse is always larger, and we can expect a bigger upward movement than many imagine!
The goal will be $127,000 $ Bitcoin!
pic.twitter.com/oFR6qLSAXC
— James Cryptoguru (@Jamyies) December 26, 2024
Bitcoin price predictions for 2025
Even with the recent volatility, Bitcoin’s outlook for 2025 is still bright. Some expect it to reach $185,000 before the end of the year, driven by shrinking supply and increasing mainstream adoption.
Trader Alex Krueger predicts that “February will be the best-performing month, and the Fed will likely shift to a dovish stance in the first quarter, stimulating risk assets like Bitcoin.”
Additionally, an increase in corporate Treasuries converting to Bitcoin in 2025 could choke off supply and ignite a price explosion. Public companies, now backed by new Financial Accounting Standards Board (FASB) rules, are welcoming Bitcoin’s appeal.
Thirty-three companies currently hold Bitcoin on their books, with MicroStrategy rising above the rest at 444,262 BTC. 99Bitcoin analysts point out that this wave of adoption could squeeze supply so significantly that it pushes Bitcoin to unknown price levels.
What does this mean for Bitcoin investors?
BlackRock’s IBIT fund is hemorrhaging outflows, but the bitcoin narrative is far from broken. Short-term fluctuations are to be expected, but the bigger game is driven by growing institutional interest, shrinking supply, and the unpredictable ebbs and flows of the global economy.
For those waiting for 2025, the signs are hard to ignore: growth is on the horizon.
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