BlackRock Introduces Bitcoin Exchange-Traded Product in Europe
BlackRock, the world’s largest asset manager, has launched a Bitcoin exchange-traded product (ETP) in Europe, signaling growing institutional interest in cryptocurrency investments. This move comes amid heightened anticipation surrounding the upcoming U.S. Personal Consumption Expenditures (PCE) inflation report, which analysts believe could significantly impact Bitcoin’s price trajectory.
US Inflation Report Could Boost Bitcoin Rally
Investors are closely watching the U.S. Bureau of Economic Analysis’ upcoming PCE inflation report, scheduled for release on March 28. The report measures inflation based on consumer spending and is considered a critical indicator influencing investor sentiment toward risk assets, including Bitcoin.
According to Singapore-based digital asset firm QCP Group, the PCE inflation data could serve as the “next key catalyst” for Bitcoin and other cryptocurrencies. QCP noted:
“As we approach Friday’s quarterly expiry, with the highest open interest in topside strikes above $100K, we don’t expect major volatility driven by options positioning alone. But attention will turn to the PCE inflation print, which could become the next key catalyst.”
Tariff Concerns and Market Sentiment
Despite positive developments within the crypto sector, global trade tensions continue to weigh on investor sentiment. Nicolai Sondergaard, a research analyst at Nansen, highlighted ongoing tariff concerns as a significant hurdle:
“I’m looking forward to seeing what happens with the tariffs from April 2nd onward, maybe we’ll see some of them dropped but it depends if all countries can agree.”
Bitcoin’s price has declined over 14% since U.S. President Donald Trump announced import tariffs on Chinese goods on January 20, coinciding with his presidential inauguration.
April Historically Positive for Bitcoin
Historically, April has been a strong month for Bitcoin, averaging a monthly return of 12.9%, according to CoinGlass data. Analysts anticipate that easing inflation concerns from the upcoming PCE report could further fuel Bitcoin’s traditional April rally.
Bitcoin Could Reach $110,000 Before Correction
Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, predicts Bitcoin could surge to a new all-time high of $110,000 before experiencing a correction to around $76,500. Juan Pellicer, senior research analyst at IntoTheBlock, supports this bullish outlook, citing increased institutional interest and recent Federal Reserve monetary easing:
“BTC is showing signs of recovery, driven by growing institutional interest and significant investments from large players. The Federal Reserve’s recent decision to ease its monetary tightening could further boost liquidity, favoring a price increase in the near term.”
Pellicer added that while volatility remains a risk, current market momentum suggests Bitcoin is more likely to reach higher price targets first.
Key Points:
- BlackRock launches Bitcoin ETP in Europe, highlighting institutional crypto adoption.
- Upcoming U.S. PCE inflation report could significantly influence Bitcoin’s price.
- Global tariff concerns continue to impact investor sentiment.
- April historically favorable for Bitcoin, averaging 12.9% monthly returns.
- Analysts predict Bitcoin could reach $110,000 before a potential correction.
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