According to an X post of Cointelegraph, Blackrock’s Spot Ethereum ETF bought 78,920 ETH on September 15, worth $ 363.2 million. Blackrock’s big purchase came in the middle of a market -wide dip. The world’s largest asset manager may have taken the chance to significantly increase their holdings. Let’s discuss whether you should also buy the dip, or wait for the prices to dip further.
Will Rally Ethereum come after Blackrock’s big purchase?
Ethereum (ETH) met a steep price dip on September 15 and fell from $ 4659.53 to $ 4513.89. Blackrock’s purchase coincides with the price, which may mean that the financial institution bought the dip. Buying the dip is a popular strategy among many retail and institutional investors. According to Cooiestecko, ETH’s price Currently, consolidating around the $ 4512 level seems to be. Access can bounce up from its current price level if market conditions are improved.
Also read: Bitcoin, Ethereum, BNB aiming for new peaks at 2025
While the chance of an interest rate reduction is high, rising inflation has caused some concern among investors. Inflation in the United States rose to 2.9% in August, which can cause the Federal Reserve to keep interest rates unchanged. If the Fed keeps interest rates in the same way, Ethereum (ETH) and the larger crypto market may continue to consolidate or meet another correction.
Other macroeconomic developments, such as trade war and customs, can also present challenges and obtain new volatility.
