BlackRock Ends 2 Weeks of Selling, Buys $250 Million... Is This a Bitcoin Bottom Signal?

▲ BlackRock Bitcoin / ChatGPT Generated Image ©

BlackRock, the world's largest asset manager, has once again made a large-scale Bitcoin purchase after approximately two weeks of selling, drawing attention to whether this signals a market bottom. However, analysis suggests that geopolitical risks in the Middle East and interest rate uncertainties remain short-term variables.

According to the cryptocurrency media outlet Watcher.Guru on July 9 (local time), based on Arkham data, BlackRock purchased $250 million worth of Bitcoin over the past two days. This purchase comes after a large-scale sell-off that lasted for about two weeks, and it coincides with Bitcoin's recent rebound, leading to interpretations in the market that it could be a sign of a confirmed bottom.

Bitcoin started at $58,000 at the beginning of this month and at one point rose to $64,000 this week. Although it later adjusted back to the $64,000 level, the outlet suggests that BlackRock's purchase indicates a move based on the current price level being a bottom. However, the deepening conflict between the U.S. and Iran could lead to rising oil prices and increased economic uncertainty, and the U.S. inflation rate of 4.2% in May 2026 was also cited as a market burden. Furthermore, while the U.S. Federal Reserve (Fed) froze the benchmark interest rate, the market anticipates the possibility of additional interest rate hikes within the year, raising concerns that Bitcoin could face another correction.

The media explained that July has historically seen many instances of Bitcoin bullishness, and CryptoQuant data supports this seasonal trend. This year, Bitcoin also rebounded quickly from $58,000 in early July to $64,000, showing a similar pattern to past trends.

Anthony Scaramucci, a figure in the financial industry, believes that Bitcoin has already passed its bottom and predicts it could rise to $77,000 by July 2026. The outlet added that with the current Bitcoin price approximately 50% lower than its all-time high of $126,080 in 2025, it is possible that other companies and asset managers will follow BlackRock in purchasing Bitcoin.

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