Hong Kong police are investigating an attack and robbery in which a man lost about HK$6 million (US$767,070) in cryptocurrency and silver.

The force said it received a report at 3.52am on Saturday that a 25-year-old mainland Chinese man was attacked by three men and a woman at a hotel near Man Lok Street in Hung Hom and robbed of cryptocurrency worth HK$5 million from his account.

The suspects later took the victim to another unit in an industrial building, where they seized silver items worth HK$1 million.

No arrests had been made so far and a manhunt was under way to track down the four suspects.

Bitcoin was barreling towards its best week in a month, but on Friday that momentum quickly dissipated. Since Wednesday, the largest cryptocurrency slumped roughly 7% to its current price of about $69,000, according to Binance. The downturn occurred following a lower than unexpected jobs report, spooking investors in the traditional stock market and in digital assets. 

Like most cryptocurrencies, Bitcoin (CRYPTO: BTC) has been in a slump to start 2026. Over the first two months of the year, it lost 25%, continuing a downturn that began last October.

Although this hasn’t been fun for investors, several firms predict that Bitcoin could bounce back over the rest of the year. Analysts from JPMorgan Chase, in particular, have struck an optimistic tone based on expectations of increased institutional inflows.

The Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs in January 2024, leading to heavy institutional investment in the top cryptocurrency. Bitcoin ETFs hold $88 billion worth of Bitcoin, about 6% of the total supply, as of March 3, 2026.

ETF approval significantly expanded who can invest in the leading cryptocurrency. It used to be mainly the territory of retail investors, but because ETFs are regulated investment products, they allow hedge funds, pension funds, and other institutional investors to buy Bitcoin.

Bitcoin ETFs haven’t been immune to the recent sell-off. But they logged $787 million in inflows last week, snapping a streak of five straight weeks of outflows. This reversal is a sign that institutional investors are beginning to buy the dip on Bitcoin, which could be the first stages of a sustained recovery.

In a volatile crypto market, Bitcoin is the most resilient option and often the first to bounce back from downturns. ETF approval has given it a level of institutional support that no other cryptocurrency has.

While the SEC has approved spot ETFs for other cryptocurrencies, they aren’t nearly as large as those for Bitcoin. Ethereum ETFs rank second, with $13 billion in assets under management (AUM). I expect spot ETFs to help Bitcoin maintain a higher floor than in the past and rebound from its recent losses over the rest of 2026.

JPMorgan Chase is an advertising partner of Motley Fool Money. Lyle Daly has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and JPMorgan Chase. The Motley Fool has a disclosure policy.