BlackRock’s IBIT adds $276M in Bitcoin – Can BTC escape its downtrend?

Bitcoin [BTC] has been in a downtrend since its attempted upside move collapsed at $84.9k ten days ago. In fact, since then, Bitcoin has fluctuated between $79k and $81k. At press time, Bitcoin was trading around $80,046, down 3% on weekly charts. As BTC struggles to regain the uptrend, some ETFs are taking the market slowdown as an opportunity to buy more. BlackRock adds $276 million in Bitcoin BlackRock’s IBIT has been actively buying BTC over the past three sessions, defying the overall dull market.