Analysis: BlackRock IBIT holders return to profitability, ETF sell pressure may ease.

According to BlockBeats news on November 27, reported by Cointelegraph, holders of BlackRock's Spot Bitcoin ETF IBIT have returned to profitability as Bitcoin rebounds above $90,000, indicating a potential shift in sentiment among one of the key investor groups driving the market this year. Arkham data shows that the holders of the largest spot Bitcoin fund, BlackRock's IBIT, have seen cumulative profits rise to $3.2 billion. Arkham stated: “Holders of BlackRock IBIT and ETHA almost made a total profit of $40 billion at their peak profit and loss on October 7, while it dropped to $630 million four days ago. This means the average cost of all IBIT purchases is nearly flat.” With ETF holders no longer under pressure, the selling speed of Bitcoin ETFs may continue to slow down. The situation has significantly improved since the recorded net outflow of $903 million on November 20.