Due to recent investments, BlackRock, the largest asset manager in the world, draws significant attention from crypto enthusiasts in the middle of continuous uncertainty of the market. Today, on February 12, 2024, the security intelligence company based on the Arkham blockchain published on X (formerly Twitter) that BlackRock invested millions of dollars Bitcoin (BTC) and Ethereum (ETH).
Blackrock’s investment in Bitcoin and Ethereum
According to the post, the asset management giant bought 250 BTC worth 24 million dollars and $ 4.845K for 12.63 million dollars, referring to an ideal purchasing opportunity and illustrating the “Buy DIP” strategy.
With this recent purchase, BlackRock now contains $ 56.1 billion BTC and $ 3.5 billion in ETH, highlighting the significant value of these two best cryptography assets.
This notable BTC and ETH purchase occurs while the global feeling of the cryptography market seems to change, the prices starting to recover. At the time of the press, the BTC is negotiated nearly $ 96,780, having experienced upwards of 2%, while ETH is negotiated nearly $ 2,670, with an increase in prices of more than 3% during of the last 24 hours.
The feeling of traders moves to a long position
While prices are starting to recover, the merchants are betting more and more on the long side, as revealed by the chain analysis company Rinsing.
At the time of the press, the traders occupying long positions are over-presented at $ 94,000, with $ 1.01 billion in long positions. Conversely, merchants occupying short -term positions are overvalued at $ 98,000, with $ 700 million in short positions. These data clearly define the current support and resistance levels for BTC.
These bullish bets are also observed in ETH. The data reveal that the traders occupying long positions are over-designed at $ 2,620, with nearly $ 300 million in long positions. Meanwhile, $ 2,685 is another over-dependent level, where merchants occupying short positions have $ 93.5 million in positions, which also indicates the real levels of support and intraday resistance.
These data indicate not only the increase in interests and the confidence of traders in the asset, but also highlights changes in the feeling of the market.