As the crypto market continues to experience volatility, BlackRock, the world’s largest asset manager, has made a significant move by purchasing $40 million worth of Bitcoin (BTC) on March 18, 2025. This purchase comes at a time when BTC’s price has been fluctuating, providing hope to investors and long-term holders.
According to on-chain transactions tracker Arkham on X, BlackRock’s purchase of BTC is not an isolated incident. Other major asset managers such as Fidelity and ARK Invest have also taken advantage of the recent price drop to acquire significant amounts of BTC.
Current Market Trends
Despite these positive developments, BTC is currently trading near $81,900, experiencing a 2% price drop in the past 24 hours. However, trading volume has decreased by 8%, indicating lower investor and trader participation.
Technical Analysis of Bitcoin (BTC)
Following the recent price drop, BTC has lost support from the trendline it had maintained since March 11, 2025. Analysts predict that if BTC continues to trade below $82,000, it could potentially drop by another 4.5% to reach the $78,000 level in the near future.
With BTC currently below the 200 Exponential Moving Average (EMA), it is evident that the asset is in a downtrend. Investors and traders should closely monitor the price action and market trends to make informed decisions about their BTC holdings.