$ETH BlackRock’s $6.4M ETH acquisition (4,126 ETH) via its spot Ethereum ETF, as Ethereum broke $1,600, signals growing institutional confidence in ETH’s utility and potential.
This aligns with your BTC/USDT analysis, where Bitcoin’s consolidation might be paving the way for altcoins like Ethereum to gain traction. JPMorgan and Grayscale’s increased ETH exposure further supports this sentiment, hinting at a possible altcoin season driven by utility narratives.
For BTC, a breakout above the descending triangle and 100MA remains critical for bullish confirmation. If ETH continues to attract institutional inflows while BTC consolidates, it could outperform in the short term, especially if altcoin momentum builds.
Key levels to watch: ETH resistance around $1,800 and BTC’s triangle apex for a directional cue. Any specific ETH chart patterns you’re tracking to complement this?
