Bitmine: Acquires 12,500 ETH for $33.65M

Bitmine, the vehicle tied to Tom Lee of Fundstrat, purchased another 12,500 ETH worth $33.65 million through BitGo five hours ago.

Price action on the 4h chart shows ETH trading at $2656.95 beneath the EMA50 at $2694.51 inside a bearish structure while the EMA200 at $2601.2 offers distant floor support. The MACD death cross at -2.3 keeps momentum negative and RSI at 37.59 leaves room before oversold territory. With price now testing the lower Bollinger Band at $2672.7, any bounce would first need to clear the upper band resistance at $2734.26 before challenging the EMA50 again.