BitMine: Acquires $52 Million Ethereum

BitMine purchased $52 million in Ethereum as Strategy offloaded Bitcoin holdings.

ETH price action on the 4h chart reveals a bearish trend with price at $1986.08 sitting below EMA50 resistance at $2038.26 and EMA200 at $2161.33, while MACD death cross at -15.46 confirms downside momentum and RSI at 40.33 leaves room for further weakness inside Bollinger bands bounded by $2048.97 resistance and $1972.37 support.