BlackRock's bitcoin ETF (IBIT) hits $10 billion volume record, hinting at capitulation
CoinDesk
BlackRock's IBIT hit a record $10 billion volume amid a 13% price plunge, suggesting institutional capitulation in the Bitcoin market.Summary
BlackRock's spot Bitcoin ETF, IBIT, experienced frenzied trading on Thursday, setting a record with over $10 billion in notional value traded across 284 million shares, a 169% increase over the previous record. This occurred as the fund's price dropped 13% to under $35, extending its year-to-date loss to 27%. The fund also saw significant redemptions totaling $175.33 million. This combination of record volume and a sharp price crash is often interpreted as capitulation—long-term holders selling at a loss, which can signal the peak selling phase of a bear market. Further evidence of peak fear came from IBIT options trading, where longer duration put options (bearish bets) reached a record premium over call options.
(Source：CoinDesk)