BlackRock Goes All-In on Ethereum, Countdown to $2800 ETH
Core Logic:
Wall Street has been pouring money into Ethereum harder than a casino lately! BlackRock bought 12,000 ETH in a single day, pushing ETH right up to the $2800 mark. Long-time investors know: $2800 is a crucial line; if it breaks, $3600 or even a new all-time high is not a dream!
Three Major Reasons for the Surge
Institutional Buying Frenzy:
BlackRock just increased its ETH ETF holdings to $400 million this week, buying alongside major institutions like Fidelity. The most audacious move is—they actually started selling BTC to buy ETH! Last week, they sold 1,249 bitcoins and immediately purchased 27,000 ethers, clearly aiming to elevate ETH as the new leader.
Technical Weakness Being Exploited:
The $2800 mark is the dividing line between bull and bear markets over the last two years, where three major liquidations exceeding a million occurred in the past three years. Now ETH has been consolidating in the $2700-$2800 range for two weeks, with the MACD indicator showing a bullish crossover under water, and if it breaks out with volume, those waiting quant funds and sidelined retail investors will rush in like starving wolves.
ETF Bombshell Dividend:
Just look at the Bitcoin ETF script to understand—after approval last year, it soared by 50%. Now the ETH ETF has seen a net inflow of $280 million for three consecutive weeks, with BlackRock's holdings surpassing Grayscale to become the top player. If this gets officially approved, at least $20 billion is waiting to come in and lift prices.
Two Major Risks
The Fed’s Time Bomb:
Although the probability of a rate hike in June is only 30%, if CPI data exceeds expectations tonight, all risk assets could plummet. ETH is sitting on a long position liquidation zone worth $1.2 billion at $2400; if it drops, it could lead to a series of liquidation disasters.
Prolonged Siege and Counterattack Crisis:
Above $2800, there are 18,000 put options, and BlackRock's own ETF cost line is around $2600. If it can't break through this week, those leveraged long positions will definitely have to cut losses and run, making a pullback to the $2400-$2500 support level possible.
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