Black Rock ETH Purchase:-
BlackRock's recent Ethereum purchase has been making waves in the crypto market! According to Lookonchain, BlackRock's iShares Ethereum Trust acquired 214,000 ETH, valued at approximately $560 million, since May 11, 2025. This significant investment signals strong institutional confidence in Ethereum's long-term value.
*Key Details:*
- *Purchase Amount:* 214,000 ETH, worth around $560 million
- *Date Range:* May 11, 2025, to June 4, 2025
- *Ethereum Price Range:* $2,500 to $2,700 during this period
- *Current Price:* $2,633.40 (as of June 4, 2025, 10:39 PM PKT)
*Impact on Ethereum's Price:*
- The massive accumulation could trigger volatility and influence overall market sentiment
- Potential breakout above $2,700 resistance level, targeting $2,850
- Support level at $2,500, with a possible test of $2,400 if price drops below
*Institutional Adoption:*
- BlackRock's move indicates growing institutional interest in crypto assets
- Approval of spot Ethereum ETFs in the US earlier in 2025 has contributed to increased adoption
- Traders should monitor ETF inflows and stock-crypto correlations for informed decision-making
*Trading Opportunities:*
- Accumulate at lower levels, anticipating a surge driven by institutional inflows
- Monitor key levels: $2,700 resistance and $2,500 support
- Be cautious of cross-market risks, as stock market stability and crypto inflows can amplify volatility ¹.
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