According to Arkham Intelligence dataBlackrock has sold Bitcoin (BTC) to buy more Ethereum (ETH). The move may be due to the world’s largest asset manager who expects additional market volatility. BTC’s price has met a shallow correction in recent weeks. ETH, on the other hand, seems to make some small profits.
Bitcoin -Glider when Ethereum wins in the middle of Blackrock’s mixture
BTC hit a maximum time of $ 111,814 on May 22. BTC’s rise triggered a market -wise rally. Many crypto assets saw increased inflows after BTC’s price increase. The rally was probably due to an increase in institutional investments. Blackrock alone bought more than $ 3 billion in BTC in May.
Ethereum (ETH) seems to be better than BTC right now. The second largest crypto after market value has increased by 0.9% in daily charts, 4.1% in the 14-day diagrams and 45.8% compared to the previous month. ETH’s price continues to glow red in weekly and annual time frames and falls 0.8% and 30.1% respectively.
ETH started rally in early May after the start of the Pectra update. The upgrade may have triggered a peak in investors’ trust. ETH recorded two -digit percentage growth in the daily charts at one point. It is possible that Blackrock predicts ETH’s price to rally in the coming weeks.
Also read: Blackrock sees bitcoin demand in the market uncertainty