Sep 23, 2025
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Ethereum Eyes Rebound as BitMine Increases Holdings to 2.4 Million ETH
Ethereum Price Movement
- Ethereum's price fell to the $4,100 support level after a 7% drop during a significant market liquidation.
- Over $1.7 billion in leveraged positions were liquidated, with Ethereum leading at nearly $500 million.
- Analysts suggest a potential rebound for ETH, following historical patterns and a new descending triangle formation.
- If ETH fails to hold the $4,100 support, it may decline towards $3,700-$3,800.
BitMine’s Investment Strategy
- BitMine increased its ETH holdings to over 2.4 million tokens, controlling more than 2% of Ethereum's supply.
- The company aims to hold 5% of Ethereum's total supply.
- Current assets include $11.4 billion in crypto and cash, with notable holdings in 192 Bitcoin and a $175 million stake in Eightco Holdings.
- BitMine is the 24th most traded stock in the US, with an average daily volume of $3.5 billion.
Market Outlook
- As of now, Ethereum trades at $4,145, marking an 8% weekly decline.
- BitMine's chairman, Thomas Lee, highlights Ethereum as a significant macro trade for the next decade, expecting blockchain adoption to transform the financial system.
