BlackRock’s IBIT bought 1,009 BTC worth $81 million, continuing its buying streak. The market for Bitcoin above $62,000 on April 17 sits at 99.9% YES.
This acquisition is part of a larger wave, with over $3 billion in Bitcoin purchased since the US-Iran conflict intensified. The market for Bitcoin above $62,000 on April 18 also sits at 99.9% YES. These purchases point to institutional investors hedging against fiat risks during geopolitical instability, which supports Bitcoin’s price.
The April 17 market has volume at $2,390/day in face value. The April 18 market is far more active, with $89,387/day in face value and $89,134 in actual USDC traded. The higher liquidity on the April 18 contract likely reflects larger institutional orders that keep Bitcoin’s price above the $62,000 threshold.
BlackRock’s sustained buying reinforces Bitcoin’s role as a hedge during geopolitical and economic uncertainty. Traders betting on a dip below $62,000 by April 17 are going against heavy institutional flow. A YES share at 99.9¢ pays $1 if it resolves, but the margin is nearly nonexistent given the odds.
Watch for further BlackRock ETF purchases and any shifts in US-Iran tensions. Escalation or de-escalation could move Bitcoin’s price relative to the $62,000 level on both contracts.
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Bitcoin Price On April 15| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 15 | 100% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 17 | 99.9% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 18 | 99.9% | — | — | Trade → |
