According to a Bloomberg analyst, BlackRock and Bitcoin ETFs played a crucial role in saving the price of Bitcoin. The analyst suggests that the involvement of BlackRock and the introduction of Bitcoin ETFs helped stabilize the price of Bitcoin during a volatile period. This support from institutional investors like BlackRock has provided a sense of legitimacy and stability to the cryptocurrency market. The analyst’s claims highlight the growing influence of institutional investors in the cryptocurrency space and their impact on the overall market dynamics.