Ethereum may rebound as BlackRock shifts interest from Bitcoin to ETH.
Solana shows signs of recovery despite recent price resistance.
After May’s strong rally, the crypto market is pulling back to kick off June. Bitcoin briefly fell from its all-time high of $111,814 to around $104,000, causing a widespread drop in altcoins. Three cryptocurrencies, Ethereum (ETH), Solana (SOL), and TRON (TRX), however, appear to be standing their ground, which could fuel a short-term reversal this weekend.
Ethereum Gains Institutional Attention as Bitcoin Faces Rotation
New on-chain data suggesting asset reallocation from Bitcoin showed that Ethereum may attract renewed investor interest. According to Arkham Intelligence data, the world’s largest asset manager, BlackRock, has dumped part of its BTC in favor of ETH, according to data from Arkham Intelligence. Although the firm has validated the move, an alteration in wallet activity points to this change in institutional preference.
Such shifts
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