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"Bitcoin Surges on Abu Dhabi ETF News, Then Cools Amid Outflows"

Coin WorldSaturday, Feb 15, 2025 7:46 am ET
1min read
BCS +0.17% BTC -0.42% GBXB +0.09% SHYM -0.04%

Bitcoin (BTC) experienced a brief spike above $98,000, driven by news of Abu Dhabi's sovereign wealth fund investing in Bitcoin ETFs. However, the price has since cooled, struggling to maintain momentum amidst ETF outflows and altcoin dominance.

Barclays, a major financial institution, has joined the Bitcoin ETF bandwagon, reporting a new position in BlackRock's iShares Bitcoin Trust (IBIT). The bank holds 2,473,064 shares of IBIT, valued at $131 million, as of December 31. This move aligns with a growing trend of institutional adoption of crypto-related products, with Goldman Sachs and JP Morgan also increasing their Bitcoin ETF holdings.

A dormant Bitcoin wallet containing 300 BTC, valued at $29,368,562, was reactivated after 11 years. This follows a trend of ancient wallets being reactivated as BTC surged and crossed $100,000. Earlier this week, 14,000 BTC were moved after remaining inactive for seven to ten years, indicating growing interest in the cryptocurrency market.

Mubadala Investment Company, one of Abu Dhabi's sovereign wealth funds, has invested $436 million in Bitcoin ETFs. This substantial investment, encompassing shares in BlackRock's iShares Bitcoin Trust, highlights growing institutional interest in the asset in the region.

Bitcoin (BTC) is currently trading around the $97,600 price level, having registered a sharp jump to $98,662 following news of Abu Dhabi's sovereign wealth fund's investment into spot Bitcoin ETFs. However, the price has since declined, dropping to $96,901 before moving to its current level. Higher-than-expected inflation numbers have put BTC prices under intense scrutiny.

Bitcoin dominance has declined substantially, dropping to a 14-day low as altcoins and ETFs gain traction. The Securities and Exchange Commission (SEC) acknowledged Grayscale's filings for Dogecoin (DOGE) and Ripple (XRP) ETFs, triggering notable rallies in the prices of both assets. Meanwhile, spot Bitcoin ETFs saw outflows worth $650 million over the trading days spanning

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Brilliant_User_7673
02/15
$UNH recent analyst ratings and price target updates: Last earnings report was on Jan. 16th. Strong Buy = 2 Buy = 19 (previously 18) Hold = 1 (previously 2) Sell = 0 After earnings: Jan 28, Wells Fargo, Overweight, lowers 694 to 660 Jan 17, Barclays, Overweight, lowers 655 to 642 Jan 17, Key Corp, Overweight, keeps 650 Jan 17, Cantor Fitzgerald, Overweight, keeps 700 Before earnings: Jan 10, HSBC, upgrades from Hold to Buy, target 595 Jan 6, Truist, Buy, lowers 625 to 610 Jan 2, Piper Sandler, Overweight, lowers 605 to 600 Consensus target 630, recent targets 595 to 700; Current stock price 523.48; 20% upside to consensus (over 100 points) Swing trade suggestion: strong buy
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WickedSensitiveCrew
02/15
$UNP event on February 19: Barclays 2025 Industrial Select Conference. Options set to expire February 21 have a predicted change of ±1.8% check it out: https://tinyurl.com/27kwp7mb
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joe4942
02/15
300 BTC wallet waking up from hibernation mode. Who else thinks there are more sleeping giants out there?
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The_Sparky01
02/15
Mubadala's move is big. Abu Dhabi flexing its crypto muscles. More institutions hopping on the BTC train. 🚀
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SnowySalesman
02/15
@The_Sparky01 What's next for BTC?
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birdflustocks
02/15
Spot ETF outflows, temporary dip or trend reversal?
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Relevations
02/15
@birdflustocks Trend reversal, imo.
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ABCXYZ12345679
02/15
Mubadala's $436M bet on Bitcoin ETFs is massive. Middle East money moving into crypto, big time.
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raool309
02/15
@ABCXYZ12345679 Yessir
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StephCurryInTheHouse
02/15
Mubadala's move could pump BTC to $100k. 🚀
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Blackhole1123
02/15
@StephCurryInTheHouse Think it'll happen soon?
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Dry_Entertainer_6727
02/15
Bitcoin dominance dipping. Altcoins and ETFs stealing the show. SEC playing hard to get with approvals. 🤔
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whoisjian
02/15
Altcoin dominance makes me nervous, holding $BTC only.
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infinitycurvature
02/15
300 BTC wallet reactivate, whales stirring?
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curbyourapprehension
02/15
Barclays jumping on the Bitcoin train? Institutional game getting stronger. 🚀
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RadioactiveCobalt
02/15
Barclays jumping on BTC bandwagon, bullish signal?
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threefold_law
02/15
SEC greenlight on DOGE, XRP ETFs, interesting times.
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James___G
02/15
@threefold_law Ok bro
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