BitMine: Hits 5M ETH Buy Milestone in 2026

BitMine, the crypto mining giant steered by Wall Street veteran Tom Lee, just pulled off its biggest Ethereum accumulation yet in 2026, snapping up enough to hit the 5 million ETH milestone. This aggressive buy comes as institutional players ramp up holdings, echoing the Bitcoin frenzy that drove BTC to new heights last quarter. Sources at DecryptMedia confirm the move positions BitMine as a heavyweight in the ETH space, potentially signaling broader crypto accumulation trends despite recent volatility.

Zooming into the 4-hour ETH chart, price action clings to $2313.47 in a bearish setup where the EMA50 at $2329.83 acts as immediate overhead resistance, capping any quick upside while the EMA200 at $2247.59 provides a sturdy long-term floor below. MACD screams bearish with a death cross at 1.55, hinting at sustained downside pressure, yet RSI at 44.56 stays neutral, avoiding oversold panic. Volatility squeezes inside the bands, with upper resistance at $2377.25 tempting bulls but lower support at $2281.86 ready to catch any slip—confluence here points to a probable test of that EMA200 before any rebound, especially if broader crypto market crash fears linger. For ETH price prediction, watch for a break above EMA50 to flip the script, but right now, it's accumulation weather for whales like BitMine.