In a statement that’s sending shockwaves through the crypto world, Larry Fink, CEO of BlackRock, declared that Bitcoin could hit $500,000 within the next 5–10 years. He didn’t stop there — Fink also called Bitcoin a $10+ trillion asset, emphasizing growing institutional belief in its future role in global finance.
Fink’s view reflects BlackRock’s aggressive crypto strategy. Their flagship iShares Bitcoin Trust (IBIT) has already pulled in over 21,000 BTC in May alone, bringing its AUM to $62.65 billion — more than half of total U.S. Bitcoin ETF assets.
ETF Flows Add Fuel to the Fire
Bitcoin’s momentum isn’t just hype — it’s backed by billions in ETF demand. Here’s how the U.S. Bitcoin ETF market looks:
- 11 Bitcoin Spot ETFs
- $118.59B in total AUM
- $120.76B total market cap
- $2.66B in daily trading volume
BlackRock is dominating, but the broader ETF ecosystem is helping solidify BTC as a serious financial asset, not just a speculative play.
Bitcoin Technicals: Strong but Overheated
Since April 7’s low of $74,532.07, Bitcoin has rallied 35.38%, reaching $103,376.94. Momentum indicators show strength:
- RSI: 75.29 → overbought zone
- MACD: 3,803.03 (above signal line) → bullish
- OBV: -492.54K → some negative pressure
- All MAs cleared:
- 50-SMA: $88,534.40
- 100-SMA: $89,842.09
- 200-SMA: $91,233.80
Monthly returns show a solid rebound in Q2:
- January: +9.54%
- February: -17.5%
- March: -2.19%
- April: +14.2%
- May (so far): +9.57%
Bitcoin’s price trajectory and Larry Fink’s forecast suggest one thing: the asset is maturing. With institutional backing, robust ETF flows, and strong technical support, BTC may no longer be just a crypto asset — it’s becoming a macro asset.
But with RSI in overbought territory, some short-term caution is warranted.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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