What does BlackRock's sale of Bitcoin and purchase of Ethereum mean?
According to data monitored through Lookonchain, BlackRock - the largest asset manager in the world - sold approximately 1,249 Bitcoin a few hours ago, after purchasing over 27,000 Ethereum the day before.
📊 Analysis:
✅ A step that reflects a strategic shift towards Ethereum, perhaps due to institutional optimism about the network's performance and upcoming technological developments.
✅ We may see temporary selling pressure on Bitcoin, especially if other institutions follow with similar moves.
✅ In contrast, BlackRock's entry into Ethereum at this scale provides strong moral support for the market and increases the likelihood of seeing a new wave of institutional demand for ETH.
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