Ethereum Crypto Profit Taking Accelerates with BlackRock Reportedly Dumping Aggressively
Key Insights:
- Ethereum crypto bullish momentum cools after retesting its 6-month resistance.
- An X user, 0xNobler, reported that BlackRock has been selling millions worth of ETH and BTC.
- Whale orderbooks reflect the bearish shift, with both spot and derivatives positions signaling profit-taking.
Ethereum crypto just had its most bullish week of 2026 (so far). However, it could be due for another profit-taking retracement, even though bull market expectations suggest it could rally higher.
Multiple factors currently point to a downside pivot for Ethereum. The cryptocurrency just crossed $2,400 for the first time since early May.
The same level served as an Ethereum resistance zone during its consolidation phase over the last 6 months. ETH price exchanged hands at $2429 at press time.
The second major factor pointing to a potential retracement was that the Ethereum-native crypto was also deep in overbought territory. The bullish ETH price momentum had already cooled down substantially in the last 24 hours compared to its
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