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October 11, 2025NewsBTC logoNewsBTC

Bitmine Receives 23,823 Ethereum From BitGo As Institutional Accumulation Continues

Ethereum is trading at critical price levels after a sharp 10% decline from the $4,750 mark, reflecting growing uncertainty across the broader crypto ￰0￱ recent correction has pushed ETH toward the $4,300 support zone, a level that bulls are now fiercely defending to prevent a deeper ￰1￱ the pullback, on-chain data suggests that large holders remain confident, signaling that this dip may be part of a healthy market reset rather than the start of a ￰2￱ Reading: Solana Network Activity Drops 50%: Is The Rally Built On Weak Fundamentals? According to recent data, Bitmine continues its aggressive accumulation of ETH, adding to its holdings even as prices ￰3￱ steady inflow from institutional players highlights strong conviction in Ethereum’s long-term fundamentals, particularly as the network maintains dominance in DeFi and smart contract activity.

Still, sentiment among retail traders remains ￰4￱ fear that sustained weakness below $4,300 could trigger another wave of selling pressure, while others see this as a potential accumulation opportunity before the next major ￰5￱ Ethereum stabilizes at these levels, the coming days will be crucial to determine whether the market resumes its bullish momentum or enters a prolonged consolidation phase amid heightened ￰6￱ Accumulation Continues As Bitmine Strengthens Its Position According to data shared by Lookonchain, institutional accumulation around Ethereum remains strong despite recent market ￰7￱ a few hours ago, Bitmine received another 23,823 ETH (worth $103.68 million) from BitGo, marking yet another significant inflow of ￰8￱ move comes only two days after Bitmine acquired 20,020 ETH ($89.7 million) via FalconX, underscoring their consistent strategy of building exposure during price dips rather than chasing ￰9￱ accumulation patterns are often seen as a sign of confidence in Ethereum’s long-term fundamentals, particularly from institutional investors who view ETH as a core asset within the broader digital ￰10￱ short-term sentiment remains cautious after the recent correction, these inflows suggest that smart money continues to see value around current ￰11￱ coming days will be critical for Ethereum’s technical ￰12￱ must defend the $4,300 support zone to maintain momentum and set up a potential recovery toward the $4,600–$4,750 resistance area.

A strong defense here could pave the way for a new all-time high, confirming renewed investor confidence and establishing $4,300 as a key accumulation ￰13￱ Reading: Grayscale Stakes 857,600 Ethereum Worth $3.83B As Institutional Confidence Grows Bulls Defend $4,300 Support Ethereum (ETH) is currently trading near $4,325, showing signs of consolidation after a 10% decline from its recent high of $4,750. The 12-hour chart reveals that ETH has fallen below the 50-day moving average (blue line), signaling short-term weakness, while the 100-day (green) and 200-day (red) moving averages are still trending upward — a sign that the broader uptrend remains ￰14￱ $4,300 level now acts as a key support zone, with bulls attempting to establish a base and prevent further downside ￰15￱ this level holds, the next target would be a retest of $4,500–$4,600, where sellers are likely to reappear.

However, a break below $4,250 could expose Ethereum to a deeper pullback toward the $4,000 psychological level, an area that previously served as a strong accumulation zone in late ￰16￱ Reading: Short-Term Holder Supply Rises By 559K Bitcoin – New Buyers Flood the Market Momentum indicators suggest that selling pressure is easing, aligning with the recent on-chain data showing continued accumulation from large entities such as ￰17￱ reinforces the idea that institutional confidence remains strong, even amid ￰18￱ now, holding above $4,300 is critical — a successful defense could mark the foundation for Ethereum’s next push toward new ￰19￱ image from ChatGPT, chart from ￰20￱

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