Bitmine: Buys 101K ETH, Hits Record Holdings

Tom Lee's Bitmine snapped up another 101,901 ETH valued at $236 million last week, pushing its total stash to a record 5,078,386 ETH now worth $11.76 billion, according to on-chain tracker Lookonchain. This aggressive accumulation echoes the Ethereum whale buying sprees seen in late 2025, where institutional players loaded up during dips, fueling speculation on ETH price prediction models tied to broader crypto market trends. With Bitcoin (BTC) also drawing heavy inflows, Bitmine's move underscores a macro shift toward layer-1 assets amid rising HYPE around decentralized finance.

Zooming into the 4-hour ETH chart, price action clings to $2303.99 in a bearish structure, pinned below the EMA50 resistance at $2329.46 while finding tentative footing above the EMA200 support at $2247.49. MACD flashes a death cross with a bearish reading of 0.79, signaling sustained downside pressure, yet the neutral RSI at 42.58 hints at no immediate oversold exhaustion. Volatility remains contained inside the Bollinger Bands, with upper resistance at $2377.63 capping rallies and lower support at $2280.54 acting as a near-term floor—confluence here points to a potential retest of that lower band before any bounce, especially if whale buys like Bitmine's fail to ignite broader momentum in this choppy crypto market crash recovery phase.