[Digital Today reporter Yoonseo Lee (이윤서)] Global asset manager BlackRock on Aug. 27 (local time) bought an additional $200.76 million worth of bitcoin.

According to blockchain outlet U.Today, inflows into the spot exchange-traded fund (ETF) market have continued since bitcoin recently moved above the $80,000 resistance level, and institutional buying interest also appears to be recovering.

The purchase came alongside inflows into the spot bitcoin ETF market. According to data provider Whale Insider, BlackRock made a large bitcoin purchase that day. Spot bitcoin ETFs as a whole also recorded net inflows of $232.12 million in the previous session.

The market is watching for a shift in BlackRock's trading stance. BlackRock has recently sold bitcoin repeatedly as volatility increased, but it has now returned to buying. This change is being taken as a factor that restores investor sentiment and market confidence.

Bitcoin prices also showed strength in line with institutional demand. Bitcoin at one point broke above the $80,000 resistance level, rising about 1.85 percent over 24 hours and 10.43 percent over a week. The pace of gains has slowed somewhat, but analysis says the momentum supporting the uptrend remains intact.

On the supply and demand side, attention focused on the fact that institutional investor demand has continued even after the breakout. As new money steadily flows into the spot ETF market, BlackRock's latest purchase is seen as an extension of that trend.

Another factor cited as supporting the uptrend was that retail investor interest remains in place. Bitcoin's recent surge has eased somewhat, but the explanation is that momentum remains strong as demand from both retail and institutional investors continues. If institutional buying persists, it is expected to add support for bitcoin to settle above $80,000 and attempt further breakouts.

In this situation, the market is also watching whether BlackRock continues additional purchases and the trend of ETF inflows. With large funds that had been selling during the recent volatility turning back to buying, and bitcoin attempting to break through key price levels, institutional demand remains a variable that could shape the near-term trend.

JUST IN: BlackRock ETF clients buy $200.76 million worth of $BTC. pic.twitter.com/od5v9XMXBW