BlackRock Bitcoin ETF size exceeds $69.7 billion CryptoQuant: Bitcoin may seek short-term support at $92,000

[Chain News] On June 20, it was reported that BlackRock's Bitcoin Spot ETF (IBIT) has surpassed $69.7 billion in Assets Under Management, holding 3.25% of the total Bitcoin supply and accounting for 54.7% of the U.S. Bitcoin ETF market. Notably, this ETF has entered the top 25 global ETFs by Assets Under Management in less than a year and a half of operation.

According to Glassnode data, the average amount of a single Bitcoin transaction currently reaches $36,200, with transactions exceeding $100,000 accounting for 89%, indicating that institutional investors are dominating the market. However, a report from CryptoQuant points out that the number of short-term Bitcoin holders has decreased by 800,000 to 4.5 million since May 27, showing that new market entry funds are drying up. CryptoQuant believes that if investor demand continues to weaken, Bitcoin may look for support around the $92,000 level.