BlackRock executed a significant portfolio reallocation by selling $561 million in Bitcoin while acquiring $118.6 million in Ethereum, signaling a strategic shift toward ETH amid strengthening technical indicators for altcoins.
This rotation coincides with Ethereum’s ETH/BTC ratio breaking above 0.0168 BTC, a historical threshold preceding previous altcoin seasons. Technical momentum is further evidenced by the Stochastic RSI mirroring patterns observed prior to major altcoin rallies, with critical resistance levels now at 0.025 BTC and 0.034 BTC for the ETH/BTC pair.
The asset manager has maintained its Ethereum position without sales since May 7, reinforcing institutional confidence in ETH’s growth potential. This combination of fundamental rotation and technical breakout increasingly points toward an impending altseason across cryptocurrency markets.