BlackRock & Top US bank’s official participation injects new catalyst for Bitcoin at $69k level 

Now officially many top US banks are authorised participants in BlackRock’s Bitcoin ETF and this is enough to be bullish for Bitcoin at the price level. 

The current trade price of Bitcoin (BTC) is $67.85k & this trade price is 3% down over the last 7 days. The lowest possible for Bitcoin to hit the price level in the next couple of weeks is $76k, just before the pre-Bitcoin Halving phase.

However we know very well that Bitcoin will surely show a 100% increment in the trade price after halving, in the next 12 months, but here we have new reasons to get excited about the Bitcoin rally. 

Recently official reports confirmed that the world’s largest asset manager, BlackRock, had added major U.S. banks as participants in its spot Bitcoin exchange-traded fund (ETF) called IBIT. The filing shared online by the official sources, showed that Banks list included Goldman Sachs, Citadel Securities, UBS and Citigroup.

This is a very big news for the Bitcoin market, as it will not only help people to remain positive with this top market cap digital asset but also it will give surety that Bitcoin is now officially supported by top-level banks in America. 

It is worth it to note that financially struggling firm Genesis Trading also completed the sale of its $2.1 billion worth of Grayscale Bitcoin spot ETF. That means high Bitcoin sell pressure now reduced significantly.

The former CEO of Bitcoin bull firm Microstrategy & popular Bitcoin proponent Michael Saylor keeps promoting Bitcoin. Today he said that Bitcoin is the best financial network for those people who don’t have the option or desire to run their hedge fund.

Under the current situation, there is almost no reason for people to remain bearish on the Bitcoin trade price and this is a good sign for the next boom in Bitcoin price.

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