🔻 Bitcoin Plunges 28%, Institutional Investors Buy the Dip:
• Spot Crypto ETFs Surge:
- Investors seized the opportunity this week, buying the dip in both Bitcoin and Ether.
- Spot Ether ETFs saw $120M in net inflows, while Spot Bitcoin ETFs added $245M midweek.
• **Market Impact:
- The sell-off wiped out $367B in value as Japan's markets nosedived.
- Despite this, Bitcoin hit an intraday high of $63,000, and Ether traded above **$2,700** by Friday.
• Institutional Moves:
- Morgan Stanley approved its 15,000 financial advisors to pitch spot crypto funds to wealthy clients.
- Other Wall Street giants may soon follow, with increasing pressure to enter the market.
• Crypto and U.S. Stocks:
- The crypto market closely mirrored U.S. equities, rebounding alongside the S&P 500.
- More than $100M in short bets on Bitcoin were liquidated, boosting prices.
• Legal & Regulatory Shifts:
- Ripple's XRP token surged 22% after a favorable court ruling against the SEC.
- The market cap of all tokens recovered, now standing above $2.1T.
