Because of the recent investments, Blackrock, the world’s largest asset manager, attracts great attention from encryption lovers amid the constant uncertainty in the market. Today, February 12, 2024, the Blockchain security company has published its headquarters on X (previously Twitter) that Blackrock has invested millions of dollars in Bitcoin (BTC) and ETHEREUM (ETH).
Blackrock investment in Bitcoin and Ethereum
According to The Post, the asset management giant purchased 250 BTC with a value of $ 24 million and 4.845 thousand ETH for $ 12.63 million, which hints to the ideal opportunity and like a “DIP” strategy.
With this last purchase, Blackrock now has $ 56.1 billion from BTC and $ 3.5 billion from ETH, highlighting the great value of these higher encrypted assets.
The BTC and ETH purchasing process comes as a time when the total encryption market morale has turned, with prices starting to recover. At the time of the press, BTC is trading near 96,780 dollars, after it has seen a 2 % bullish momentum, while ETH is trading near $ 2,670, with more than 3 % prices increased in the past 24 hours.
Feelings trades turn towards a long situation
With the start of the recovery, traders are increasingly betting on the long side, as the analysis company revealed the series Coinglass.
At the time of the press, the number of traders who occupy long positions is overd at the level of 94,000 dollars, with a value of $ 1.01 billion in long positions. On the contrary, traders who hold short positions exceed the level of $ 98,000, with a value of $ 700 million in short positions. This data clearly determines the current support and resistance levels of BTC.
These bullies are likely to be observed in ETH as well. The data reveals that traders who occupy long jobs are excessive in the record at the level of $ 2620, with approximately $ 300 million of ETH jobs. Meanwhile, $ 2,685 is another level of the registry, with traders holding short positions of $ 93.5 million, which also indicates real support and resistance levels between today.
This data not only indicates an increase in the interest of merchants and confidence in the original, but also highlights the transformations in the market morale.
