BlackRock's Bitcoin and Ether exchange-traded funds (ETFs) acquired over $1 billion worth of the assets amid a significant market correction where prices dropped by over 5%. Despite this downturn, institutional investors are showing continued interest in purchasing at lower price points, highlighting a robust demand for Bitcoin and Ethereum. Following a rapid price retreat influenced by geopolitical factors and mixed signals from the U.S. Treasury, Bitcoin approached a local bottom around $117,200, recovering to above $119,000 shortly thereafter. Notably, Bitcoin is near filling a recent gap in its CME futures, an indicator of potential price stabilization. The total trade volume for the Bitcoin and Ether spot ETFs reached approximately $11.5 billion, comparable to major stocks like Apple. This activity suggests confidence from institutional investors in the long-term value of these cryptocurrencies, despite short-term volatility, and sets the stage for possible upward momentum in the coming days.

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