IBIT ETF Pullback Dey Mirror Bitcoin Price, Rebound Fit Happen
BlackRock’s iShares Bitcoin Trust (IBIT ETF) don drop enter $63.80, down 8.4% from im 2025 high, as Bitcoin price loss momentum. IBIT net assets drop to $83.8 billion after im $77 million net outflow on Tuesday, show slowdown for cumulative inflows weh dey $57 billion since dem start am. Di fund still dey 51% above im lowest level dis year, even though e record over $1.4 billion total outflows for all spot Bitcoin ETFs for August.
Technical analysis for Bitcoin show say e get bullish flag pattern and dem do better break-and-retest for $112,000 support level. Bitcoin also come back to the 50-day exponential moving average and test ascending trendline weh don dey since April. These signs mean say e fit rebound go the previous high of $123,192 and fit push reach $125,000.
Since IBIT dey closely follow Bitcoin price action, if Bitcoin recover, e likely go trigger ETF rebound. Traders suppose watch out for breakout above $123,192, weh go confirm say trend continue. Di main things to watch na net outflows, support retests and ETF assets under management. IBIT still be one of di most successful Bitcoin ETFs, weh peak at $86 billion AUM, and na BlackRock eighth-largest ETF by assets and profit.
Bullish
IBIT ETF dey very close to follow Bitcoin price, so the recent small fall na temporary momentum loss, no be say trend don change for ground. Technical signs for Bitcoin — like the bullish flag pattern, break-and-retest at the $112,000 support level, and return meet the 50-day EMA — dem don always come before upward breakout in the past. Similar things wey happen for April and May lead to rallies wey pass 10%.
Even though the ETF get net outflows of $77 million amid bigger spot Bitcoin ETF outflows of $1.4 billion for August, IBIT still dey strong 51% above im yearly low and na one of the biggest and most profitable ETFs with $83.8 billion in Assets Under Management. This kain strong position show say the outflows fit be profit-taking, no be say people dey fear sell for long time.
If Bitcoin fit break above the all-time high of $123,192, this one go confirm say the bullish trend still dey and fit cause fresh inflows enter IBIT. For short term, traders fit expect more wahala for price around support levels and ETF flows data. For long term, steady technical breakouts and money from big institutions fit push Bitcoin and IBIT go new high, like the past bounce-back. So, the expected bounce back in Bitcoin price dey support better outlook for IBIT ETF.