BlackRock Launches Bitcoin ETP in Europe as BTC Hits $87,065

BlackRock, the world's largest asset manager, has launched its first Bitcoin exchange-traded product (ETP) in Europe. The iShares Bitcoin ETP began trading on March 25, 2025, on Xetra and Euronext Paris under the ticker “IB1T,” and on Euronext Amsterdam, it is “BTCN.” This product mirrors the success of BlackRock’s U.S. spot Bitcoin exchange-traded fund (ETF), which has amassed over $50 billion in assets since its inception. The European Bitcoin ETP holds actual BTC in cold storage through Coinbase Custody International Ltd., ensuring robust investor protection.

On March 25, 2025, Bitcoin was trading at approximately $87,065, marking a slight pullback of around 1.5% following a 4.38% intraday rise on March 24th. This minor correction is typical after significant price movements, with prices drifting slightly below larger volume-weighted areas. Despite this pullback, Bitcoin has maintained a year-to-date gain of about 10%, indicating both assertive growth and potential volatility. The market capitalization stands at $1.73 trillion.

Analysts hold varied opinions on Bitcoin's future trajectory. Some forecasts suggest that Bitcoin could drop as low as $20,000 in the long run, with an immediate correction potentially approaching $74,000, signaling the start of a new bear market. Conversely, other forecasts are more optimistic, predicting that Bitcoin will not fall below $87,691.96 in March 2025 and could even reach as high as $119,714.81 by the same month. These diverse views underscore the need for investors to stay informed and conduct thorough due diligence before entering the cryptocurrency market.

Bitcoin's price action on March 24, 2025, showed strong bullish momentum, peaking at $86,624 at 00:35 UTC. However, this momentum was short-lived as a death cross and an oversold RSI triggered a market sentiment shift, leading to a sharp but brief price drop. Buyers quickly stepped in, allowing Bitcoin to establish a new upward trend with added bullish momentum. At 2:30 UTC, a golden cross appeared on the MACD, and by 8:00 UTC, the price had reached a new trading range, testing resistance and support levels of $88,600 and $86,500, respectively. Despite periodic tests of sell-side pressure, the price remained north of the uptrend, pulling prices higher optimistically.

At 14:45 UTC, BTC hit a critical resistance area, but an overbought RSI and another death cross indicated further selling pressure. Initially, prices remained stable, but sellers began to take hold, shifting sentiment from bullish to bearish. A confirmed death cross at 20:15 UTC led to a steady price decline continuing into March 25. Buyers made short-lived attempts to recover, but Bitcoin remained under bearish influence, dropping below support levels. However, at 04:10 UTC, Bitcoin triggered another cross, this time a golden cross, suggesting a potential bullish reversal. Since the cross, Bitcoin has regained a steady upward trajectory as buyers regain some momentum.

The latest BTC market trend highlights the ongoing battle between bulls and bears, with volatility keeping traders on edge. BlackRock’s Bitcoin ETP launch in Europe adds a layer of intrigue, likely boosting institutional adoption and liquidity. While bearish signals like death crosses and resistance rejections have tested Bitcoin’s strength, golden crosses suggest renewed bullish momentum. The market remains divided, with predictions ranging from deep corrections to new all-time highs. Bitcoin has stabilized above key support levels, and investors should watch for clear breakouts or breakdowns. The bullish price action this week has resulted in robust trading volume and increased institutional interest in BTC, suggesting that the next significant move for BTC could happen at any time. Traders should monitor confirmation from signals like MACD and RSI to determine the subsequent course of action.