Bitcoin Tops $97,000; BlackRock's IBIT ETF Outpaces Gold Inflows
Key Takeaways
- Bitcoin's price rose above $97,000 amid U.S./China trade negotiation optimism.
- BlackRock's IBIT surpassed GLD in year-to-date inflows: $6.96B vs $6.5B.
- Metaplanet bought 555 BTC for $53.5M, totaling 5,555 BTC; plans $25M bond.
- BlackRock's Bitcoin ETF holdings surpassed MicroStrategy (MSTR) after accumulating $3.92B in BTC.
- Bitcoin's market dominance reached 65% of the crypto market.
Top Stories
Bitcoin surges above $97,000 on trade negotiation optimism
On May 7, 2025, Bitcoin's price rose above $97,000 due to optimism surrounding potential progress in U.S./China trade negotiations, with U.S. Treasury Secretary Scott Bessent scheduled to meet with Chinese representatives in Switzerland this weekend. Bitcoin increased by approximately 3% in the last two hours.
BlackRock's IBIT surpasses GLD in year-to-date inflows
On May 7, 2025, BlackRock's spot Bitcoin ETF (IBIT) exceeded the SPDR Gold Trust (GLD) in year-to-date inflows, with IBIT attracting $6.96 billion compared to GLD's $6.5 billion.
Metaplanet buys 555 BTC, holdings reach 5,555 BTC
On 2025-05-07, Metaplanet announced it purchased 555 BTC for $53.5 million, increasing its total holdings to 5,555 BTC. They will issue another $25 million in bonds to EVO FUND for further BTC purchases.
BlackRock Bitcoin ETF holdings surpass MSTR
On May 6, 2025, it was reported that BlackRock's Bitcoin ETF holdings surpassed MicroStrategy (MSTR) after accumulating $3.92 billion in BTC.
Bitcoin's market dominance reaches 65%
On 2025-05-06, it was reported that Bitcoin's market dominance reached 65% of the crypto market, raising questions about the potential recovery of altcoins.
Price Watch
Binance's CZ predicts Bitcoin could reach $1,000,000
On 2025-05-06, Binance’s CZ revealed an epic Bitcoin price prediction, suggesting BTC could reach $1,000,000.
Market Pulse
Bitcoin traders seek downside protection before Powell comments
CoinDesk 20 index drops 2.2%
On May 6, 2025, CoinDesk reported that the CoinDesk 20 index dropped 2.2% as all assets traded lower.
Analyst predicts 5x upside for Bitcoin mining rig maker
On 2025-05-06, a Wall Street analyst predicted a potential 5x upside for Bitcoin mining rig maker Canaan, based on current market conditions and the company's future prospects.