BitMine May Slow ETH Buys After $12B Hoard

Fundstrat's Tom Lee warns that crypto giant BitMine could ease off aggressive Ethereum acquisitions after stacking up close to $12 billion in ETH, a move that echoes last year's whale accumulation frenzy during the Bitcoin halving rally. This shift arrives as ETH navigates volatile waters, with institutional players eyeing Ethereum price prediction models amid whispers of a potential crypto market crash if buying pressure fades.

On the 4-hour chart, ETH trades at $2292.21 in a clear bearish structure, hugging the 200-EMA support at $2267.73 while the 50-EMA looms as resistance overhead at $2331.73. MACD's death cross at -8.05 screams sustained downside, but neutral RSI at 38.85 hints at no immediate capitulation. Price sits snug inside Bollinger Bands, testing the lower support at $2288.07—a break below could accelerate toward fresh lows, though confluence with the 200-EMA suggests buyers might defend here before any rebound, especially if BTC stabilizes. Watch for volatility exhaustion at the upper band of $2416.79 to signal reversal potential in this macro downdraft.