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BlackRock's Aggressive Selling Weighs on Ethereum as Bulls Face Profit-Taking

Guavy AI Editorial Team
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Ethereum's recent bullish momentum has slowed down after retesting its six-month resistance zone at $2,400. This level served as a key resistance area during Ethereum's consolidation phase in May.

According to DeFi researcher 0xNobler, BlackRock has been aggressively selling millions worth of ETH and BTC. Whale orderbooks reflect the bearish shift, with both spot and derivatives positions signaling profit-taking.

The fact that one of the largest institutional buyers is taking profits could reinforce bearish expectations and add further selling pressure to the market. Ethereum's price had just reached its most bullish week in 2026, but it may be due for a profit-taking retracement.

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