Bitcoin, Ethereum Forecast: BlackRock’s $500M Dip-Buying Boosts Recovery Hopes

Hot US producer-price (PPI) data jarred risk assets and sparked a swift crypto sell-off in the past 24 hours, with Bitcoin (BTC) dropping by as much as 5.45% and Ethereum’s native token, Ether (ETH), plunging 7.22% in the same period.

BlackRock Buys Over $500 Million Worth of Bitcoin, Ethereum

Into the crypto market weakness, BlackRock’s iShares Bitcoin Trust (IBIT) took in $523.7 million on Aug. 14, while its iShares Ethereum Trust (ETHA) drew $519.7 million, signaling aggressive dip-buying from the market’s largest issuer.

Sector-wide flows underline the bid. US Bitcoin ETFs still finished the day with inflows of $230.8 million, with IBIT’s haul doing the heavy lifting.

Ethereum funds fared even better at net +$639.6 million, led by ETHA’s $519.70 million. Such flows, arriving immediately after the macro shock, suggest institutions used the pullback to accumulate BTC and ETH exposure rather than de-risk.

Robust, price-insensitive ETF demand from BlackRock is cushioning downside and improving odds that Bitcoin and Ether can refocus on recent highs. As of Friday, BTC and ETH were up 0.55% and 2%, respectively.

“This shows that big money wants some dip, so that they can accumulate more,” says market analyst BitBull.

Onchain data hints at a similar buy sentiment. For instance, as of Thursday, the 30-day change in Bitcoin supply held by addresses holding between 100 (~$119 million) and 1,000 BTC ($1.19 billion) was +430 tokens.

Over the past 30 days, 1K–10K BTC and 10K+ BTC wallets trimmed balances by 41 BTC and 3 BTC, respectively. The 100–1K BTC cohort effectively soaked up that supply, absorbing the larger cohorts’ distribution, according to Glassnode data.

In Ethereum’s case, entities holding over 10,000 ETH witnessed a rise in 30-day average supply on Thursday, more than the combined outflows witnessed in lower cohorts. That also indicates absorption as the ETH price recovers.

Bitcoin Price Outlook: $130,000 is Viable Target Despite BTC Dip

Bitcoin broke out of a bull flag and has already thrown back to retest the pattern’s upper trendline.

Buyers defended the retest alongside the 20-day EMA (~$117,700), while the relative strength index (RSI) holds above its midline, suggesting momentum remains constructive.

The flag’s measured move (flagpole height) projects a target in the $130,000–$131,000 area from the breakout zone, aligning with the next horizontal resistance.

What Could Change This View?

As long as BTC stays above the $117,000–$115,000 support band (flag top/50-day EMA), the path of least resistance is higher. A daily close below $114,000 would weaken this view.

Ethereum Price Outlook: $5,000 ETH Price Possible in August

Ether cleared its flag and is trading above the 20-day EMA (~$4,070). Momentum stays constructive with RSI holding the 60–70 band, while fading pullback volume implies strong hands.

The measured move points to ~$5,000–$5,050.

What Could Change This View?

Holding $4,250–$4,100 keeps bulls in control; a daily close below $4,000 would delay targets for now.