Binance Square Alert: BlackRock's $ETH Move Decoded ๐
The Real Story: ๐ฐ Contrary to rumors of a $300M secret dump, BlackRock sold $151M worth of Ethereum (ETH) while buying $290M in Bitcoin (BTC). This strategic rebalancing reflects the firm's long-term approach to crypto investments.
Key Takeaways:
- Portfolio Rotation: ๐ BlackRock shifted its weight from ETH to BTC, indicating a strategic portfolio adjustment.
- Short-Term Pressure: ๐ ETH faced selling pressure due to ETF outflows and whale moves, but big players still see long-term value.
- Long-Term Play: ๐ฎ BlackRock's accumulation and repositioning suggest a bullish outlook on crypto, particularly BTC and ETH.
Market Impact:
- BTC Price: ๐ธ Fell 2.09% to $109,422, but maintains a strong yearly return of over 90%.
- ETH Price: ๐ Dropped 3.29% to $4,306, yet still holds a 77% yearly gain.
Institutional Sentiment:
- BlackRock's Holdings: ๐ฐ The firm's
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