Ethereum’s price fell dramatically, dropping from $2,771 to $2,443 before stabilizing at $2,509. Panic selling was influenced by economic concerns related to trade wars, yet many investors seized the opportunity to buy at these low prices.
BlackRock, with $73 billion in crypto exposure, has been purchasing Ethereum daily for over two weeks, accumulating $570 million worth. This showcases its intention to increase influence in both crypto and traditional markets.
Technical indicators show ongoing bearish pressure on ETH prices; however, whale accumulation indicates potential bullish momentum. Currently, more than 77% of ETH holders are profitable, reflecting underlying confidence in a future price increase.
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