Bitcoin has surged into October, with traders gearing up for a market “frenzy” in the months ahead. The bitcoin price has reached a new all-time high exceeding $126,000 per bitcoin, resulting in a market capitalization of approximately $2.5 trillion, as concerns grow over a potential U.S. dollar crisis driven by the Federal Reserve. As U.S. president Donald Trump proposes a $2,000 Covid stimulus check-style tariff dividend, BlackRock’s market-leading spot bitcoin exchange-traded fund is poised to surpass $100 billion in assets under management—set to achieve this milestone at an unprecedented pace compared to any other ETF in history. Larry Fink, has made headlines with his insights on bitcoin and its price movements in the crypto market. His perspective continues to shape the image of digital assets in the financial landscape. Larry Fink has emerged as a prominent advocate for cryptocurrency, playing a significant role in driving the bitcoin price upward since early 2024.
BlackRock’s IBIT, which debuted in January 2024 to significant excitement, has experienced a remarkable surge due to substantial inflows in recent months and the rising value of bitcoin. The fund currently boasts assets totaling $98.6 billion and is on track to surpass the psychological threshold within days. “Bitcoin volatility is set to experience a significant breakout. “Implied volatilities across 14, 30, and 90-day expiries have surged to their highest levels in the past 30 days, pointing to increased anticipation of big moves ahead,” Sean Dawson said. “This spike comes as markets price in a near-certain 25 basis point rate cut by the Federal Reserve later this month, with Polymarket odds currently sitting at 90%.” After experiencing a 3% decline from $123,000 to $120,000, bitcoin has bounced back to $121,600. Data reveals that a significant cluster of short positions is facing potential liquidation just above this level. A slight upward movement might initiate a wave of liquidations, potentially driving BTC back toward $125,000 and further. Bitcoin and crypto traders continue to exhibit optimism in the face of the recent bitcoin pullback, as analysts highlight a disconnect between the current price movements and the fundamental market conditions. “Bitcoin is up 7% in October, perfectly matching its seasonal pattern — but this time, the rally feels different,” Markus Thielen noted. “Despite trading near all-time highs, momentum is fading, and what once looked like a clean breakout now sits in no-man’s-land.” Beneath the surface, the narrative shifts: institutional whales are making aggressive purchases, while early adopters are discreetly selling into strength.
Market analysts suggest that Bitcoin ETFs might attract an additional $20 billion in inflows by year-end, with a significant portion expected to flow into BlackRock’s bitcoin fund. “Following the recent rally over the first weekend of ‘Uptober’, which saw bitcoin’s price surge to a new all-time high above $125,000, record-level ETF inflows totalled above $3 billion across the first week of the month,” stated Dom Harz. According to a report Eric Balchunas and James Seyffart, BlackRock’s IBIT is poised to reach the $100 billion milestone approximately five times faster than any other ETF in history, making it “by far the youngest” of the 20 largest ETFs. BlackRock’s flagship S&P 500 ETF took 25 years to reach its current revenue levels, while IBIT has achieved higher profitability in less than two years. The fund, with a 0.25% fee, is projected to generate annual revenue of $240 million for BlackRock, making it the most profitable ETF for the firm after it overtook BlackRock’s IWF and EFA funds in July. “The fact that IBIT is now BlackRock’s most profitable product is extremely impressive,” Seyffart stated, noting that BlackRock’s bitcoin fund—and competing crypto-tied ETFs—encountered significant criticism prior to their launches last year. “We were extremely optimistic about the demand and inflows we anticipated for the bitcoin ETFs, but even these figures have surpassed our most optimistic projections.” The BlackRock bitcoin fund has emerged as the primary avenue for traditional finance to access bitcoin, as the rising interest in the “debasement trade” this year has propelled bitcoin’s value upward alongside gold. Larry Fink has been making headlines in the crypto space, particularly regarding bitcoin. Recent discussions have centered around the bitcoin price and its fluctuations, with analysts closely examining the latest charts for insights into market trends. The bitcoin price has surged alongside gold this year, with several analysts forecasting that the bitcoin price has more room to grow in the coming months.
“While it’s very possible that gold will continue to outperform other assets for the foreseeable future, it has certainly become a crowded trade,” Nic Puckrin said. “This indicates that there is an increased level of risk associated with starting exposure at this moment.” Following a remarkable rally of over 50% in gold prices year-to-date, the focus may now shift to other alternatives that convey a similar perspective. Among these are various metals and commodities, tokenized real assets, and bitcoin, which continue to be undervalued in comparison to gold. “These alternative assets can all play a similar role in portfolios—a hedge against future inflation and political intervention, and an alternative to the U.S. dollar and other debasing currencies.” Last week, crypto ETFs experienced unprecedented inflows, amassing nearly $6 billion worldwide. “This level of investment highlights the growing recognition of digital assets as an alternative in times of uncertainty,” stated James Butterfill.