BlackRock has purchased $142 million worth of Bitcoin, signaling a potential bullish outlook as analysts identify a double bottom formation on the BTC price chart. The acquisition comes as Bitcoin's price hovers around the $78,000 mark, following a dip to $74,000. This move by BlackRock is seen as a strategic accumulation during a period of discounted prices. Analysts suggest that Bitcoin could experience further price fluctuations, with potential resistance at $80,600 and a possible retracement to $77,600. The double bottom formation indicates a potential bullish reversal, with expectations of a price surge to $83,700. Despite bearish predictions of a dip to $54,000-$44,000, the recent purchase by BlackRock adds a bullish sentiment to the market.