bullish

Bitcoin ETF

Bitcoin

BlackRock

<ul class="wp-block-list">
 <li>A whale with $181M in profits on Bitcoin just added 200 BTC, showing confidence despite recent price swings.</li>  
 <li>Bitcoin faces key resistance at $63,285, but bullish MACD signals could push momentum upward in the near term.</li>  
 <li>BlackRock shifts focus, selling 182 BTC and buying 7,574 ETH, signaling potential confidence in Ethereum’s future.</li> 
</ul>  
<p>The price of Bitcoin is still strong trading at $62,939, above its exponential moving average (EMA) of $62,203 for a 30-period period. A smart whale has <a href="https://x.com/lookonchain/status/1845125030738526326" target="_blank" rel="noopener noreferrer nofollow">profited</a> from Bitcoin trades for over $181 million, and it recently added 200 more BTC to its portfolio. This move reflects growing confidence in Bitcoin, especially following recent fluctuations.</p>  
<p>The whale previously bought 6,000 BTC between August and early September at an average price of $26,429. Additionally, they bought another 2,000 BTC before the<a href="https://cryptonewsland.com/bitcoin-and-ethereum-dominate-new-etf-launches-occupying-13-of-the-top-25-spots/" target="_blank" rel="noopener noreferrer nofollow"> Bitcoin ETF launch in January</a> at $44,381. As of today, the whale holds over $165 million in Bitcoin assets.</p>  
<h2 class="wp-block-heading" id="h-whale-trading-patterns-and-market-resistance">Whale Trading Patterns and Market Resistance</h2>  
<p>The Fibonacci retracement levels on the Bitcoin chart indicate key price areas for potential market movements. The immediate resistance lies at $63,285, correlating with the 23.6% Fibonacci level. Bitcoin faces another resistance level at $62,318, marking a 38.2% retracement.&nbsp;</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdxXNRCWBcgbM_Sx4UysWE-FgMnUFBhBDCvBImvL24EF8nQ0OsXX5s3aaH9uQl1ZSGBlI9s6NIzZHaDZ72UgSWvul2yvXupAgb2ysUafYt8kby1ZHDTvk4hptJO9y4vZM-GUkcot_v-ov4O4PCqaGz3-SLK?key=lM25GYX3o8GFbAlAqxRLdg" alt="">
</figure>  
<p><strong><em>Source: </em></strong><a href="https://www.tradingview.com/chart/j1NGtNzR/?symbol=BITSTAMP%3ABTCUSD" target="_blank" rel="noopener noreferrer nofollow"><em>CryptoRank</em></a></p>  
<p>These price points are crucial for short-term traders watching the market closely. However, on the support side, Bitcoin is expected to hold steady around the 50% retracement level at $59,920. If prices drop further, $54,107 and $49,757 represent additional critical support levels.</p>  
<p>Moreover, the MACD indicator shows a bullish trend forming, with the MACD line crossing above the signal line. Besides that, a shift towards positive momentum is indicated as the histogram displays smaller red bars, suggesting weakening bearish pressure.</p>  
<h2 class="wp-block-heading" id="h-blackrock-s-strategic-adjustment-and-eth-shift">BlackRock’s Strategic Adjustment and ETH Shift</h2>  
<p>In contrast to Bitcoin accumulation, <a href="https://cryptonewsland.com/fidelity-and-blackrocks-bitcoin-etfs-soar-to-the-top-ten-rankings-in-just-ten-months/" target="_blank" rel="noopener noreferrer nofollow">BlackRock made adjustments to its crypto portfolio</a>. The asset manager recently sold 182 BTC worth $11.34 million, reducing its Bitcoin holdings to 369,640 BTC, which are valued at $23.02 billion.</p>  
<p>At the same time, BlackRock increased its Ethereum holdings by purchasing 7,574 ETH for $18.52 million. This shift could indicate growing confidence in Ethereum’s future prospects, especially with recent discussions around ETFs and long-term yield potential.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/lookonchain/status/1844779314522603820
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<p>Consequently, analysts remain divided on BlackRock’s intentions. Some believe the company is positioning itself for an ETH rally, while others see this as a response to client-driven demand through ETF products. Despite the changes, BlackRock continues to have a strong preference for Bitcoin over Ethereum.<br></p> 
<p>The post <a href="https://cryptonewsland.com/whale-confidence-grows-as-bitcoin-stays-strong/" rel="noopener noreferrer nofollow">Whale Confidence Grows as Bitcoin Stays Strong—What’s Next for BlackRock?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Whale Confidence Grows as Bitcoin Stays Strong—What’s Next for BlackRock?

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