BitMine: Buys 12.5K ETH for $33.65M

BitMine purchased and received 12.5K ETH valued at $33.65M from BitGo, lifting its holdings to 4.9% of Ethereum's 122.1M total supply and closing in on the Alchemy of 5% target.

Price action on the 4h chart shows ETH at $2685.98 trading inside the Bollinger Bands with the lower support at $2681.54 and upper resistance at $2728.32, while the EMA50 at $2695.64 acts as immediate resistance above the EMA200 at $2601.49; the neutral RSI at 44.74 combined with the MACD death cross at 0.02 signals bearish momentum that favors a test of the 50-EMA before any sustained move higher.