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📊 BlackRock Goes All In – $1B Bitcoin & Ether ETF Buy Amid Market Dip
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🔹 $1B ETF Buy Sparks Institutional Confidence
BlackRock’s iShares Bitcoin Trust (IBIT) and Ether ETF purchased over $1 billion in BTC and ETH combined on Thursday.
The move came during a 5%+ price drop in both assets, signaling strong “buy the dip” sentiment from institutions.
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🔹 BTC Price Holds Key Support After Sharp Drop
Bitcoin (BTC/USD) dipped to $117,200 following hot US PPI inflation data and mixed statements on the Strategic Bitcoin Reserve.
Price recovered above $119,000 into Friday’s Wall Street open, defending the daily support level.
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🔹 Massive Liquidations – But Institutions Step In
Over $500M in long positions were liquidated in 24 hours, with total market liquidations nearing $1B.
While retail traders faced losses, institutional buying surged.
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🔹 ETF Volumes Rival Apple Stock
Bloomberg ETF analyst Eric Balchunas reported $11.5B in combined BTC & ETH spot ETF volume on Thursday.
This trading volume was comparable to Apple (AAPL), showcasing the growing mainstream integration of crypto ETFs.
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🔹 CME Gap Nearly Filled – New Rally Expected?
Bitcoin’s dip to $117,200 nearly filled the latest CME futures gap, historically a bullish signal.
Analysts like Ted Pillows and Jelle see potential for a new rally if BTC reclaims $120,000 as strong support.
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🔹 Market Outlook – Eyes on $120K Breakout
Traders expect BTC to target new highs if it holds above $120K.
ETH’s strong ETF inflows also hint at renewed bullish momentum for the broader crypto market.
$BTC $ETH
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#July PPI Beats Expectations# #ETH ETFs Top $30B# #Gate Alpha Peak Trading Competition#