Sep 4, 2025
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Bitmine Purchases Additional $65.3 Million in Ethereum Holdings
Ethereum Overview
- Ethereum remains stable above $4,200
- Resistance at $4,500 not yet breached
- Increased selling pressure due to profit-taking and market uncertainty
Institutional Interest
- Strong fundamentals with aggressive institutional buying
- Bitmine purchased $65.3 million more ETH, totaling 1.785 million ETH valued at approximately $7.71 billion
- Bitmine is the largest ETH holder, significantly ahead of competitors
- Trend indicates a capital shift toward ETH amid stagnation in Bitcoin demand
Technical Analysis
- Current trading price around $4,406
- Support levels identified between $4,280–$4,300
- Resistance at $4,500; failure to break could lead to a drop toward $4,200
- 200-period SMA provides structural support
