BlackRock's iShares Bitcoin Trust (IBIT) remains the largest spot Bitcoin ETF by assets, but its sheer scale is increasingly cutting both ways. According to Farside's latest flow data, the fund that once funneled massive inflows into the market can now amplify selling pressure when investors pull out. With Bitcoin testing demand levels around $60,000, redemptions from IBIT effectively translate into spot selling that bulls must absorb to push prices higher. The dynamic highlights how concentrated ETF ownership has reshaped Bitcoin's market structure, making the product's flows a key indicator of momentum. When inflows dominate, IBIT supports rallies; when outflows accelerate, it functions as a sell wall. The data suggests traders are watching IBIT's daily activity closely as a barometer for whether fresh spot demand can materialize and sustain upward price movement.
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