Bitmine: Nears 5% Ethereum Supply Control

Bitmine edges closer to controlling 5% of total Ethereum supply through its $11.8 billion treasury buildup.

Price action shows ETH at $1926.15 holding a bullish trend with EMA50 at $1896.32 acting as immediate support and EMA200 at $1811.53 providing deeper floor. MACD golden cross at 14.5 confirms momentum while RSI at 56.11 leaves room before overbought conditions.

With price testing upper Bollinger resistance at $1973.61, a healthy retracement toward the 50-EMA support at $1896.32 appears probable before continuation. Ethereum supply control, crypto treasury accumulation and ETH technical confluence all point to sustained institutional interest.