BlackRock is selling Bitcoin to buy Ethereum, will this bull run trigger another altcoin season?
Lookonchain revealed in its official X account that BlackRock recently sold 182 BTC worth $11.34 million ;
Around the same period, the blockchain analysis tool recorded BlackRock's purchase of 7,574 ETH tokens worth about $18.52 million. This surprising development indicates a possible shift in BlackRock's investment strategy, hinting at the investment giant's new favor for Ethereum ;
As the world's largest Bitcoin fund, BlackRock's decision to swap Bitcoin for Ethereum came as a shock to many members of the cryptocurrency community, and discussions filled the space about the real reasons behind the asset manager's investment decision ;
According to some market observers, BlackRock's move is a reflection of its clients' digital asset preferences, as the asset manager may sell Bitcoin and buy Ethereum based on their requests. Other cryptocurrency community members including see BlackRock's investment move as a sign that Ethereum prices may be preparing for a significant rebound;
The market has already expected a significant altcoin season bull cycle this year. BlackRock's unexpected investment move is driving discussions in the speculative market about Ethereum prices potentially surging and outperforming Bitcoin;
