BlackRock Loads Up on $312M Worth of BTC and ETH
BlackRock's linked ETF wallets have accumulated significant amounts of Bitcoin (BTC) and Ethereum (ETH) over the past 10 hours, according to on-chain data. The accumulation totals $312M, with at least 3.62K BTC worth approximately $282M and 12.53K ETH valued at around $30.6M. This development aligns with prior analysis patterns observed in the last year.
The Bitcoin price currently trades within its Bollinger band, with an upper resistance level of $80,330.45 and lower support at $77,097.11. The 50-EMA at $75,467.41 and 200-EMA at $68,739.06 remain key long-term supports in the bullish structure.
The MACD death cross signals short-term momentum loss, while the RSI remains neutral at 57.28. As a result, a healthy retracement toward the 50-EMA support appears probable before any continuation higher.