{"id":96251,"date":"2024-10-11T08:13:28","date_gmt":"2024-10-11T12:13:28","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=96251"},"modified":"2024-10-11T08:15:01","modified_gmt":"2024-10-11T12:15:01","slug":"blackrock-metaplanet-buy-bitcoin-dips","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/blackrock-metaplanet-buy-bitcoin-dips\/","title":{"rendered":"BlackRock & Metaplanet Buy Bitcoin Dips Amid Crypto Market Downturn"},"content":{"rendered":"\n

BlackRock and Metaplanet<\/a> buy Bitcoin dips, capitalizing on current volatile market conditions as retail\u00a0investors panic.<\/p>\n\n\n\n

\"BlackRock<\/figure>\n\n\n\n

The recent drop in Bitcoin's price below $60,000 has caused concern in the market, leading to over $53 million in long liquidations over the past 24 hours. <\/p>\n\n\n\n

Despite the volatility, major players like BlackRock<\/a> and Metaplanet have continued to buy Bitcoin during these dips, signaling their confidence in the cryptocurrency.<\/p>\n\n\n\n

BlackRock and Metaplanet Purchase Bitcoin During Market Dips<\/h2>\n\n\n\n

In the last two weeks, BlackRock has significantly increased its Bitcoin holdings by $742 million, despite the market's fluctuations. <\/p>\n\n\n\n

The world\u2019s largest asset manager has added 12,272 BTC to its portfolio in just 16 days.<\/p>\n\n\n\n

This comes after a period of reduced activity between August 27 and September 24, when Bitcoin stayed below $60,000. <\/p>\n\n\n\n

However, since September 24, BlackRock has resumed its BTC acquisitions, bringing its total holdings to over 369,822 BTC, valued at approximately $22.4 billion. <\/p>\n\n\n\n

This steady accumulation highlights growing confidence in Bitcoin\u2019s long-term potential.<\/p>\n\n\n\n

\n

\u201cBlackRock bought 12,272 $BTC($742M) over the past 16 days. Between Aug 27 and Sept 24, when $BTC traded below $60K for an extended period, #BlackRock made few accumulations. Since Sept 24, they've resumed buying, adding 12,272 $BTC to their holdings,\u201d tweeted Lookonchain on October 11, 2024.<\/p>\n<\/blockquote>\n\n\n\n

Last week, BlackRock also recommended buying Bitcoin as the U.S. dollar weakens over time, positioning Bitcoin as a hedge against inflation and a strong alternative to counter the diminishing purchasing power of the dollar.<\/p>\n\n\n\n

Metaplanet, another major player, has also been buying Bitcoin during the dips. Recently, the company purchased 108.99 BTC for \u00a51 billion at an average price of \u00a59,174,396 per Bitcoin. <\/p>\n\n\n\n

This comes just days after another Bitcoin purchase earlier in the week. <\/p>\n\n\n\n

By October 11, Metaplanet held 748.50 BTC, bought for a total of \u00a56.965 billion at an average price of \u00a59,304,655 per Bitcoin.<\/p>\n\n\n\n

\u201cMetaplanet purchases additional 108.99 $BTC,\u201d the company announced on Twitter.<\/p>\n\n\n\n

BTC Whales Panic Sell<\/h2>\n\n\n\n

While BlackRock and Metaplanet are buying, some Bitcoin whales have been panic-selling due to the price volatility, with some experts predicting the potential for a 75% correction based on historical trends.<\/p>\n\n\n\n

According to data from Lookonchain, one whale panic-sold 800 BTC ($48.5M) following the recent price drop. <\/p>\n\n\n\n

This whale had accumulated 11,659 BTC ($727M) since June 19 at an average price of $62,362 but sold 10,345 BTC ($619M) at $59,847, resulting in a loss of around $26 million. <\/p>\n\n\n\n

Despite these losses, the whale still holds 8,936 BTC valued at $540 million.<\/p>\n\n\n\n

\n

\u201cThis whale panic-sold 800 $BTC($48.5M) again after the $BTC price dropped! Since June 19, this whale has accumulated 11,659 $BTC($727M) at $62,362, and sold 10,345 $BTC($619M) at $59,847, losing ~$26M, and still holds 8,936 $BTC($540M),\u201d Lookonchain tweeted.<\/p>\n<\/blockquote>\n\n\n\n

The Bitcoin price\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> decline below $60,000 occurred following the release of the U.S. Consumer Price Index (CPI) data for September, which showed higher-than-expected inflation. <\/p>\n\n\n\n

These movements have caused Bitcoin bulls to lose hope for an October rally.<\/p>\n","protected":false},"excerpt":{"rendered":"

BlackRock and Metaplanet buy Bitcoin dips, capitalizing on current volatile market conditions as retail\u00a0investors panic. The recent drop in Bitcoin’s price below $60,000 has caused concern in the market, leading to over $53 million in long liquidations over the past 24 hours. Despite the volatility, major players like BlackRock and Metaplanet have continued to buy […]<\/p>\n","protected":false},"author":56,"featured_media":96253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[17807,22311,1520,19076],"class_list":["post-96251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-btc-price","tag-bitcoin-dips","tag-blackrock","tag-metaplanet-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/BlackRock-Metaplanet-Buy-Bitcoin-Dips-Amid-Crypto-Market-Downturn.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/96251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=96251"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/96251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/96253"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=96251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=96251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=96251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}