Bitcoin 
Ethereum 
Tether 
XRP 
BNB 
Wrapped SOL 
USDC 
Lido Staked Ether 
TRON 
Dogecoin 
BitMine Immersion shares were trading more than 8% lower on Monday after the firm acquired over 82,000 ETH in the last week.
💡 DMK Insight
BitMine’s acquisition of over 82,000 ETH is a bold move, but the market’s reaction is telling. With ETH currently at $3,598.21, a drop in BitMine’s shares by over 8% suggests skepticism about the sustainability of such a large purchase. Traders should consider that this could indicate either a strategic accumulation or a potential liquidity issue for BitMine. If they’re betting on ETH’s price appreciation, they might be facing a short-term backlash as the market digests this influx of supply. Look for ETH to hold above key support levels around $3,500; a breach could trigger further selling pressure. On the flip side, if ETH rebounds, it could signal strong institutional confidence, potentially reversing BitMine’s share decline. Keep an eye on trading volumes in the coming days. If we see increased buying interest in ETH, it could suggest that the market is absorbing this new supply without significant downside. Conversely, if volumes remain low, it might indicate that traders are wary of further downside risks. Watch for volatility as traders react to this news and adjust their positions accordingly.
📮 Takeaway
Monitor ETH’s support at $3,500; a breach could lead to further selling, while a rebound may indicate institutional confidence.
