Bitmine: Stakes Additional $248.7M in ETH

Bitmine controlled by Tom Lee at Fundstrat just staked another 160,480 ETH valued at $248.7M, lifting total staked holdings to $7.56B or 86% of its stack.

Price sits at $1555.96 on the 4h chart inside a bearish structure with EMA50 at $1669.92 and EMA200 at $1826.56 acting as layered resistance while the MACD death cross at -38.98 keeps downside pressure intact. RSI at 32.04 remains neutral yet the position near the lower Bollinger Band support of $1530.44 suggests any bounce attempt will first confront upper band resistance at $1732.22 before the next directional move materializes. Institutional desks tracking ETH staking volumes alongside ETH price prediction models now watch whether sustained accumulation offsets the broader crypto market crash risk priced into the tape.