BlackRock ETF Buys Bolster Bitcoin; $120K Next Target if Support Holds

I see BlackRock’s matching buys into its Bitcoin and Ether spot ETFs as a meaningful vote of confidence: over $500M flowed into BTC and a similar amount into ETH during the dip, while combined spot ETF volumes surged to roughly $11.5B.

Technically, BTC nearly closed the CME futures gap, reclaimed the 4h 50EMA and is eyeing $120K as the next breakout level. That said, hotter US PPI and recent liquidations remind me downside risk remains if macro pressure resumes.

I would treat this as a tactical buying opportunity but keep position sizing tight and use the gap/support zone as a clear risk fence.