Jane Street holds $1 billion in Bitcoin ETFs as BTC tests key $64,000 level

Bitcoin trades near key pivot, analyst outlines price targets

BTC is currently priced at $64,321.14. Over the past 24 hours, trading volume reached $20.97 billion with Bitcoin’s total market capitalization at $1.29 trillion. After gaining 1.09% in the last day, both market structure and the growing Bitcoin ETF market are supporting speculation of a potential bullish reversal.

Crypto market analyst That Martini Guy reported that Bitcoin retested the important $64,000 pivot after dipping below $63,000. The movement attracted new buyers, sending BTC up to $64,529 before renewed selling led it back toward the critical $64,000 zone.

“A hold at $64,000 could allow buyers to push initially to $65,000, then $65,700, which would reinforce Bitcoin’s bullish structure over the short term,” explained the analyst.

Should Bitcoin fail to hold the $64,000 level, analysts anticipate a retreat to $63,000. Further breakdown below $63,000, especially if the four-hour closing falls under this mark, could invalidate the recovery structure and open the way to $61,000 support.

Traders are closely watching four key levels: $63,000 as support, $64,000 as the pivotal area, $65,700 as potential confirmation of a bullish trend, and $67,200 as the next major resistance point.

Institutional investment in Bitcoin ETFs climbs

US Securities and Exchange Commission (SEC) filings show that Jane Street, a global quantitative trading firm, currently holds over $1 billion in US spot Bitcoin ETF assets as of June 30. This level of exposure signals rising institutional demand for regulated investment avenues giving access to digital assets.

Of Jane Street’s holdings, $828 million is allocated to BlackRock’s iShares Bitcoin Trust (IBIT), with the remainder distributed among ETFs like Fidelity’s FBTC and Grayscale’s GBTC. This substantial presence underscores the role of ETFs in supporting market participation by large financial institutions, allowing exposure to Bitcoin price movement without direct cryptocurrency management.

Jane Street is recognized for its influence on global financial markets through quantitative trading and liquidity provision. The firm’s position in spot Bitcoin ETFs marks a notable trend of deepening institutional adoption within the cryptocurrency space.

Mini dictionary: Jane Street, a global quantitative trading firm that provides liquidity across various financial markets and is known for active participation in both traditional and digital assets.

Markets are watching whether institutional ETF flows can help Bitcoin maintain support at $64,000, with upward targets set at $65,700 and $67,200 if momentum returns.

Outlook for BTC price depends on support levels and ETF demand

BTC performance is now closely linked to the ability to hold above $64,000 and reclaim resistance at higher levels. A push beyond $65,700 could send prices to $67,200, while a drop below $63,000 raises the risk of retreat toward $61,000.