BlackRock Unloads Billions on BTC and ETH

BlackRock has made significant investments in Bitcoin and Ethereum over the past eight trading days. The financial giant purchased 27,722 BTC worth $2.2 billion and 385,633 ETH worth $961 million. This substantial institutional buying has a notable impact on price prediction models, with traders closely watching to see if sustained purchases can prevent any potential crypto market crash.

The current price of Bitcoin sits at $79,824.37 within the Bollinger band, with an upper resistance level at $80,172.6 and lower support at $77,901.27. The EMA50 and EMA200 continue to act as layered support beneath a bullish structure, despite the MACD death cross signaling short-term momentum loss.