BlackRock Aggressively Selling Ethereum Amid Profit-Taking

Ethereum's price momentum has slowed down in recent days after retesting its six-month resistance level.

A user on X reported that BlackRock, a well-known institutional investor, was aggressively selling millions worth of ETH and BTC.

The whale orderbooks reflect this bearish shift, with both spot and derivatives positions showing signs of profit-taking.

The Ethereum price had reached $2,429 at press time, crossing the $2,400 level for the first time since early May. This was also a resistance zone during its consolidation phase over the last six months.