Cryptocurrency News Today TheBitTimes.com

BlackRock’s crypto portfolio has shifted significantly over the past week, with blockchain data showing a sharp reduction in its Ethereum holdings alongside renewed accumulation of Bitcoin. According to data retrieved by Finbold from on-chain intelligence from Arkham, BlackRock’s Ethereum position fell from 3.78 million ETH worth $16.82 billion on September 5 to 3.66 million ETH worth $15.91 billion on September 12. That marks a reduction of 115,950 ETH, equating to more than $913 million in value within just seven days.  BlackRock’s Ethereum holdings. Source: Arkham Ethereum’s share of BlackRock’s crypto exposure dropped from 16.7% to 15.7%, a clear tilt away from the second-largest cryptocurrency by market cap. BlackRock boosts its BTC holdings In contrast, BlackRock added to its Bitcoin position. Holdings rose from 747,470 BTC ($83.53 billion) to 751,400 BTC ($85.62 billion) over the same period. An increase of 3,930 BTC, worth more than $2.09 billion, ...

The Ethereum price drop has been really concerning for investors as we head toward the end of Q1, with ETH plummeting about 39% against Bitcoin to reach a five-year low. At the time of writing, the ETH/BTC ratio is sitting at just 0.02191, which breaks a lot of the historical patterns we’ve seen in Ethereum vs Bitcoin performance during these post-halving periods. This dramatic ETH market crash is happening during what’s typically a pretty strong quarter for the asset, and it’s definitely raising some serious concerns about broader crypto market volatility as we’re heading into Q2. Also Read: Michael Saylor’s ‘Strategy’ Buys 22,048 Bitcoin Worth $1.92 Billion Ethereum’s Outlook in Q2: Price Forecast, Risks & Market Impact Source: CoinDCX Historic ETH/BTC Decline The Ethereum price drop has, quite frankly, reached some critical levels, with Ethereum recording its worst Q1 performance since 2018, down nearly 46%. This sharp Ethereum vs Bitcoin divergence is a...