According to analyst Thomas Fahrer, BlackRock has purchased 3352 Bitcoin (BTC), bringin its total holdings to 806k BTC, valued at roughly $61 billion at current market rates. The big purchase may be signal that the world’s largest asset manager anticipates the original crypto to see a price upswing in the coming days. Let’s discuss if BTC will make any positive price movements following BlackRock’s big buy.
Will Bitcoin Rally Following BlackRock’s Purchase?
Bitcoin (BTC) is already showing signs of a reversal, trading in the green zone in nearly all time frames. According to CoinGecko data, BTC’s price has rallied 1.8% in the last 24 hours, 2.7% in the last week, 10.7% in the 14-day charts, and 11.3% over the previous month. However, BTC’s price is still down by 12.7% since April 2025.
BlackRock’s latest purchase coincides with Bitcoin’s (BTC) recent upswing. BTC was facing resistance at around the $73,000 price level earlier this year. However, the resistance level has since risen to the high $79,000 mark. The rising resistance mark could be a signal that the asset is slowly making an upward push.
According to Farside Investors, BlackRock has seen nine consecutive days of Bitcoin (BTC) inflows this month. Rising ETF inflows may be a factor behind BTC’s price rally. If the trend continues, BTC could soon reclaim the $80,000 mark.
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However, despite the price rally, Bitcoin (BTC) could face some challenges from geopolitical tensions and high interest rates. The US-Iran conflict is far from over and talks don’t seem to materialize into sustainable peace. Moreover, the Federal Reserve is unlikely to reduce interest rates after its April 2026 meeting. Higher rates could keep retail investors away from risky assets, such as Bitcoin (BTC) and other cryptocurrencies.