Bitcoin and the broader crypto market faced a notable price plunge on Monday, with the global crypto market cap losing $100 billion in valuation and total liquidations surpassing $1 billion. Interestingly, despite this so-called ‘Red Monday,’ Eric Balchunas, a Bloomberg Senior exchange-traded fund (ETF) analyst, revealed in a post uploaded earlier today that investors of BlackRock’s crypto fund, IBIT, maintained their holdings without flinching. Related Reading: Bitcoin Rebounds Past $56,000, Ethereum Over $2,500: Key Factors Unshaken By Market Meltdown According to Balchunas, during this chaotic period whereby panic selling may be seen as the norm, BlackRock investors particularly showcased a strong level of resilience by not liquidating any portion of their cryptocurrency holdings. What makes this more interesting is that these same investors had already endured about an 8% loss the previous week and were facing additional losses during the Bitcoin market crash. Balchunas noted: Compared to some of these degens these boomers [Blackrock investors] are like the Rock of Gibraltar. You guys are so lucky to have them. Balchunas further reported that although BlackRock registered a minor 0.3% total outflow ..
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