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 performance on Wednesday and Thursday.

BlackRock is Reportedly Selling ETH Crypto and Bitcoin in Bulk

Institutional flows have been at the forefront of this week’s ETH and BTC rally. Ethereum ETFs alone pulled in $508.6 million since Monday, the highest weekly inflows observed in months.