Bitmine: Pulls 89K ETH Worth $198M From Kraken

Bitmine just executed one of the largest single-day ETH accumulations on record, withdrawing 89,026 ETH worth $198 million from FalconX and Kraken across four addresses in the past ten hours.

The move lifts the entity's total stash to 5.295 million ETH, now valued at $11.8 billion and cementing its position as the largest known corporate holder. Such aggressive buying during a period of subdued prices often signals conviction from deep-pocketed players looking to front-run the next leg higher.

ETH currently sits at $2230.49 on the 4-hour chart, trading below both the EMA50 at $2287.76 and EMA200 at $2272.87 inside a bearish structure confirmed by the MACD death cross at -18.99. With RSI at 38.53 still neutral and price hovering just above the lower Bollinger band support at $2208.21, any sustained defense near that level could trigger a short-covering bounce toward the upper band resistance at $2318.88 before the next directional move.