- Bitcoin is trading near $96,000 while near-term momentum appears weak.
- Harvard increases IBIT from $117 million to $443 million in one quarter.
- Institutions and sovereign wealth funds continue to buy more bitcoins.
Bitcoin slipped to around $96,000, down about 1.5% in the past 24 hours, as the crypto and broader stock markets retreated. Analysts say the latest drop aligns with weakness in technology stocks, which have reacted negatively to concerns that Donald Trump’s proposed tariff changes could increase the risk of stagflation – a mix of slow economic growth and high inflation.
However, despite the short-term price decline, one major development has caught the market’s attention. Harvard University has significantly increased its exposure to bitcoin through ETFs.
Harvard triples its Bitcoin ETF holdings
A new regulatory filing revealed that Harvard now owns 6.8 million shares of IBIT worth about $443 million, up from just 1.9 million shares worth $117 million in the second quarter, marking a roughly 257% jump in exposure.
The university also increased its gold ETF holdings to 661,000 GLD shares worth $235 million, nearly double its previous position. This sudden change has sparked discussion within the financial community, with many wondering, “What does Harvard see coming?” »
Institutional and sovereign actors continue to accumulate
Harvard is far from the only heavyweight increasing its exposure to bitcoin. As one expert put it, “retail may be dead, but sovereigns and institutions are buying.” Abu Dhabi’s sovereign wealth fund has quietly expanded its position to an estimated $422 million worth of IBIT, while the Czech National Bank has reportedly joined the list of new bitcoin buyers. JPMorgan also increased its holdings, bringing its exposure to around $280 million.
Bitcoin Price Slides
Bitcoin is trading lower this week after a wave of outflows hit major U.S. bitcoin ETFs, adding fresh selling pressure to the market. The overall trend has weakened and analysts believe that the short-term momentum remains bearish.
Also Read: ETH Whale Activity Climbs As Large Holders Buy Into Double-Digit Price Drop
On the weekly chart, bitcoin is now showing an early warning sign from the SuperTrend indicator, which has not been seen since the start of the 2022 bear market. The signal will only confirm if bitcoin ends the week below $96,000.
Bitcoin has already fallen below the key support range near $99,000 to $100,000, and the next major support zone lies around $92,000 to $94,000 based on Fibonacci levels.
Also Read: Bitcoin Falls Below $96,000, But Expert Says It’s ‘Easiest Bear Market Ever’
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