Bitmine: Buys 26,659 ETH for $62M

Bitmine (@BitMNR) snapped up 26,659 ETH valued at $62.18 million last week, pushing their total holdings to 5,206,790 ETH now worth $12.15 billion. They stake 4,712,917 ETH for $11 billion, following a prior purchase of 101,745 ETH at $236.8 million that elevated reserves to 5,180,131 ETH. This aggressive accumulation by a major player underscores Ethereum whale strategies in a market eyeing ETH price prediction rallies, especially as Bitcoin (BTC) trends influence broader crypto adoption and staking rewards.

On the 4-hour chart, ETH trades at $2329.29, hugging the EMA50 support at $2328.44 while staying well above the EMA200 at $2274.5 in a clear bullish structure. MACD flashes a golden cross with a 3.51 reading, confirming upward momentum, even as RSI sits neutral at 49.51. Price action coils inside Bollinger Bands, testing the upper resistance at $2364.17 against lower support of $2287.86—confluence here screams potential breakout if buyers defend the 50-EMA, targeting volatility exhaustion at the upper band before any retrace, perfect setup for institutional longs amid ongoing crypto market crash recovery narratives and Ethereum staking rewards growth.