ETH : Top entities tighten strategic control over Ethereum supply
For the first time ever, Ethereum’s strategic reserves have crossed $4 billion, with 1.11% of the supply now concentrated in just 50 entities.
BlackRock’s latest buy of 50,970 ETH worth $150 million only adds fuel to the narrative. And it might not be random timing.
The ETH/BTC ratio has posted two straight green candles, hinting that as Bitcoin [BTC] struggles at resistance, capital could be quietly rotating into Ethereum.
The divergence shows up in the data, too. Bitcoin’s Open Interest has dropped 3.72%, with the price now 5% off its $122k high. Meanwhile, ETH has kept its OI drawdown to just 2%, showing more stability under pressure.
If that relative strength holds, Ethereum could be setting up for another leg higher, using this 2% dip as a springboard for a breakout above $3,000.
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