Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

BlackRock Is Selling Bitcoin To Buy Ethereum, Will This Bullishness Trigger Another Altcoin Season?

Share This Post

New reports have revealed that BlackRock, the world’s largest asset manager and American multinational investment company, is now selling Bitcoin (BTC) to buy Ethereum (ETH). Many market watchers propose that this unexpected investment change could trigger a bullish rally for Ethereum, potentially catalyzing another altcoin season

BlackRock Dumps Bitcoin For Ethereum

Lookonchain, a blockchain analytics tool has uncovered a shocking new transaction executed by asset manager, BlackRock. In its official X (formerly Twitter) account, Lookonchain disclosed that BlackRock has recently sold off 182 BTC, valued at $11.34 million. 

Around the same period, the blockchain analytics tool recorded BlackRock purchasing 7,574 ETH tokens, worth approximately $18.52 million. This surprising development indicates a potential shift in BlackRock’s investment strategy, hinting at the investment giant’s newfound favor in Ethereum. 

As the world’s largest Bitcoin fund, BlackRock’s decision to dump Bitcoin for Ethereum comes as a shock to many crypto community members, with discussions flooding the space about the real reason behind the asset manager’s investment decision. 

According to some market watchers, BlackRock’s move is a reflection of its clients’ digital asset preferences, as the asset manager could be selling Bitcoin and buying Ethereum based on client requests. Other crypto community members are seeing BlackRock’s investment move as a sign that the price of Ethereum could be gearing up for a substantial rally. 

As the number one altcoin in the market with the largest market capitalization, a massive price rally for Ethereum could potentially trigger the long-awaited altcoin season. Historically, a price increase in Ethereum paves the way for other altcoins in the market to see similarly bullish gains.

With the market already expecting a significant altcoin season in this bull cycle, BlackRock’s unexpected investment move is fueling speculation in the market about a potential Ethereum price surge that could outperform Bitcoin

As of writing, BlackRock‘s holding reveals a strong preference for Bitcoin in terms of value. Data from Lookonchain reveals that BlackRock holds approximately 369,640 BTC, valued at an impressive $23.02 billion. In comparison, the investment giant Ethereum’s holdings amount to 414,168 ETH, with a value of around $1.01 billion, highlighting a stark difference in the allocation between the two leading cryptocurrencies. 

Analyst Says Altcoin Season About To Kick In

Numerous analysts in the crypto market are expressing optimism about the highly anticipated altcoin season. A popular Bitcoin and crypto analyst identified as ‘Moustache’ on X has disclosed that the altcoins season index has been forming a particularly bullish pattern for the past 3.5 years, suggesting that altcoins could be on the verge of a significant price increase. 

Bitcoin Ethereum

He disclosed that this technical analysis pattern is known as the “Inverse Head and Shoulder,” which often indicates a potential shift from a downtrend to an uptrend. The analyst is optimistic that the present market downturn will soon be replaced by strong growth in the altcoin market, anticipating an extended period of price gains. 

Ethereum price chart from Tradingview.com (Bitcoin)

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin vs. Social Security: Former Maryland Governor’s Ponzi Scheme Remark Sparks Fury

Former Maryland Gov Martin O’Malley recently compared bitcoin to a Ponzi scheme while defending the US Social Security Administration The comparison drew criticism from bitcoin supporters, who

Is Bitcoin Price Heading To $137K? Market Expert Says BTC Broke Out Since Nov. 2024

After a somewhat sluggish start to 2025, the Bitcoin price has begun to impress in the year’s second quarter The premier cryptocurrency reclaimed the $100,000 mark earlier this week and seems

BlackRock Meets With SEC To Discuss Staking, Tokenization, Others – Details

Executives of American investment firm BlackRock met with the US Securities and Exchange Commission (SEC) ‘s crypto task force on Friday to discuss various matters pertaining to cryptocurrency

BIS Study Shows Low-Value Bitcoin Transfers Reshape Remittances Amid High Traditional Costs

A new study by the Bank for International Settlements reveals cross-border crypto asset flows surged to $26 trillion in 2021, with stablecoins and emerging markets reshaping global financial networks

Here Are 5 Reasons Ethereum May Reach $12,000 In 2025 – Analyst

Ethereum prices have surged by over 19% in the past day, reaching almost $2,500 as a general crypto market resurgence continues Amidst investors’ euphoria, prominent crypto analyst and OKC

Zipline to the Moon!

As trade war headlines faded into the background last week, markets exhaled—and bitcoin broke above $97,000 Meanwhile, Token2049 Dubai offered both spectacle and substance This editorial is from