BlackRock Buy $1B Bitcoin and Ether ETFs Amid 5% Fall
BlackRock spot Bitcoin ETF and Ether ETF don buy assets wey worth over $1 billion during one 5% price drop. Dem buy as BTC/USD fall reach about $117,200, almost fill one CME futures gap wey be $17,200. Inside 24 hours, liquidations cross $900 million but institutional demand still strong. Data show say iShares Bitcoin Trust add $500 million for BTC, Ether ETF match am for ETH. Dis “buy the dip” wey institutional investors dey do show say demand still dey. Combined ETF trade volumes reach $11.5 billion, e fit compete with Apple stock. Traders from BitBull and analyst Eric Balchunas talk about this strategy and point key support levels for the filled CME gap and 4-hour 50-EMA. Their views mean say rally fit happun once $120,000 hold as support. Dis market correction fit be buying chance. Bitcoin ETF and Ether ETF flows fit boost liquidity and drive long-term uptrend.
Bullish
BlackRock big big buying wen 5% correction show say institutional demand dey strong well well. Historically, di kind "buy di dip" strategy wey ETF investors dey use don always give quick price support and e dey help di market rise afterwards. Di near full fill of CME futures gap at $17,200 (around $117,200 BTC) na im dey show one key support level and e dey reduce risk to fall lower. For short term, ETF inflows go stabilize market volatilitiy and e go limit selling. For long term, steady institution involvement through Bitcoin ETF and Ether ETF fit bring steady capital inflow, improve liquidity, and boost market confidence. Combined ETF trade volumes wey comparable to top equities mean say market dey adopt am well well. So, di news show say crypto market fit go up if ETF demand continue strong.