Summary
- A Bloomberg ETF analyst said Bitcoin rose 260% after BlackRock filed for an ETF.
- He said the annualized return for that period was about 73%.
- He said Bitcoin, despite recent short-term weakness, shows a strong cumulative gain since large institutions entered ETFs.
Recently Bitcoin (BTC) has been in a correction, but analysis shows it still recorded a high cumulative gain since BlackRock filed for a spot exchange-traded fund (ETF).
On the 15th (local time), Eric Balchunas, a Bloomberg ETF analyst, wrote on his X, "Nobody says it, but Bitcoin has risen 260% from the time BlackRock filed for an ETF until now," and "on an annualized basis, about a 73% return."
Bitcoin has recently been pushed below the $100,000 level and is experiencing short-term bearish pressure, but on the long-term trend it still maintains a strong cumulative gain following large institutions' entry into ETFs.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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