Bitcoin draws closer to $70K as BlackRock adds Goldman Sachs, Citadel, UBS and Citigroup to AP list

Bitcoin price remains above the November 2021 supply zone, extending from $58,375 to $65,518. BlackRock has expanded its list of authorized participants, drawing more players in the BTC ETF market. BTC’s 60-day correlation with altcoins has fallen to multi-year lows in Q1 2024 relative to the same periods in 2023 and 2022. Bitcoin price price is closing the week on a high note, holding above $68,000 as the market switches to the weekend mode.

BlackRock updated its bitcoin ETF prospectus w/ many new Authorized Participants incl first-timers Citadel, Goldman Sachs, UBS, Citigroup. Takeaway: big time firms now want piece of action and/or are now OK being publicly associated w this. H/t @akibablade @CryptoSlate… pic.twitter.com/z5Ntb43VhO — Eric Balchunas April 5, 2024 Specifically, the ETF issuer has added Goldman Sachs, Citadel, UBS and Citigroup to its BTC ETF, the IBIT, as authorized participants .

Genesis has finished selling $2.1 Billion of its Grayscale Bitcoin ETF holding - Arkham Send it! — Bitcoin Archive April 5, 2024 Elsewhere, crypto exchange Coinbase says Bitcoin “dips are likely to be more aggressively bought” now because of new investors demanding to own digital gold . This is evidence of a possible supply shock.

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