Bitmine’s Ether holdings reach 4.17M as chairman pushes expanded crypto strategy

💡 DMK Insight

Bitmine’s aggressive accumulation of Ether is a move worth watching closely. With their holdings now at 3.4% of the circulating supply, they’re not just playing the long game; they’re signaling confidence in ETH’s future. This kind of institutional buying can create upward pressure on prices, especially if they reach their target of 5%. Traders should keep an eye on how this impacts market sentiment and liquidity. If ETH can hold above the $3,100 mark, it could attract more bullish momentum, potentially leading to a test of resistance levels around $3,200. On the flip side, if selling pressure increases, a drop below $3,000 could trigger a wave of stop-loss orders, creating a cascading effect. Watch for any news from Bitmine regarding their accumulation strategy, as it could provide insights into their market outlook and influence other institutional players. The next few weeks will be crucial for ETH, especially with broader market trends in play.