BlackRock Buys $50 Million In Ethereum:
Based on data from Coinbase Prime, there were several recorded transactions of BlackRock’s purchase of 9,000 to over 58,000 $ETH worth between $23 million and $61 million. The huge Ethereum buy from BlackRock puts forth evidence that large corporations are paying closer attention to cryptocurrencies.
Key takeaways:
* Ether futures open interest has surged 40% in 30 days, while the spot ETH ETFs marked four consecutive weeks of inflows.
* ETH’s Gaussian channel indicator suggests a rally to $3,100 to $3,600 could occur.
Ethereum’s native token, Ether ETH $2,675, has consolidated between $2,300 and $2,800 for the past 30 days, but this sideways phase could be coming to an end. The 4-hour chart shows $ETH retaining support from the 200-day exponential moving average (EMA), and the price is forming a hidden bullish divergence with the relative strength index (RSI). A hidden bullish divergence occurs when the price forms higher lows while indicators like RSI form a lower low, signaling a trend breakout.
Spot Ethereum ETFs surge as BlackRock continues to buy
The spot Ethereum exchange-traded funds (ETFs) marked their fourth straight week of net inflows, adding 97,800 ETH, pushing total holdings to 3.77 million ETH.