Bitmine: Buys 20K ETH in 24-Hour Spree

Tom Lee's Fundstrat-linked Bitmine just loaded up on another 20,000 ETH worth $44.8 million, pushing its 24-hour haul to 65,000 ETH for $147 million, as tracked by on-chain sleuths at Lookonchain. This aggressive accumulation echoes Bitmine's push to maximize ETH per share through treasury plays, building on its history of Ethereum ecosystem bets that have ramped up over the past six months amid volatile crypto market swings.

Zooming into the 4-hour ETH chart, price action clings to $2,250.23 right at the EMA200 support of $2,252.78, but the overarching bearish trend screams caution with the EMA50 looming as resistance at $2,306.42 and a fresh MACD death cross at -17.34 signaling sustained downside pressure. Neutral RSI at 40.18 offers no immediate relief, while the pair trades snug inside Bollinger Bands—upper resistance at $2,365.05 caps any quick bounces, and lower support at $2,220.82 beckons if sellers pile in, aligning with broader ETH price prediction models eyeing a test of volatility exhaustion before any rebound, especially as Bitcoin (BTC) correlations drag on sentiment in this macro crunch.