Bitmine: Adds 5,000 ETH in Latest Purchase

Bitmine, the entity tied to Tom Lee of Fundstrat, purchased 5,000 ETH for $11.22 million six hours ago according to Lookonchain. The move lifts its stack to 6.065 million ETH valued at $13.7 billion, equal to 4.96% of total supply.

ETH trades at $2252.69 on the 4-hour chart inside a bearish structure defined by the EMA50 at $2296.93 and EMA200 at $2429.73. Momentum shows RSI at 42.2 in neutral territory while MACD registers a bullish golden cross at -7.99. Price sits inside the Bollinger Bands with upper resistance at $2297.29 and lower support at $2228.95, suggesting any test of the upper band could trigger a retracement toward the 50-EMA before continuation.