Bitmine Adds Another 4,871 Ethereum To Treasury: Now Holds $7.65B In ETH

Ethereum is holding steady above the $4,400 mark after a weekend surge that briefly carried it to fresh all-time ￰0￱ rally, fueled by strong institutional demand and broader market optimism, has been tempered over the past two days as the price retraced to test lower ￰1￱ the pullback, ETH remains one of the most closely watched assets in the market, with bulls and bears both eyeing the next decisive ￰2￱ are ￰3￱ argue that ETH’s ability to maintain support above $4,400 signals resilience and a potential setup for another rally toward $5,000. Others, however, see warning signs of buying exhaustion and raise concerns of a deeper correction if market sentiment ￰4￱ to the intrigue, blockchain analytics firm Lookonchain revealed that Bitmine, Ethereum’s largest corporate holder, bought another 4,871 ETH worth $21.28M just 12 hours ￰5￱ brings Bitmine’s total holdings to staggering levels, reaffirming the narrative of large-scale institutional ￰6￱ combination of strong whale activity, heightened institutional demand, and volatile short-term price swings underscores the pivotal moment Ethereum ￰7￱ ETH breaks higher into uncharted territory or succumbs to correction pressures will be a defining factor for the broader altcoin ￰8￱ Whale Accumulation Strengthens Bullish Outlook According to Lookonchain, Bitmine currently holds 1,718,770 ETH valued at $7.65 billion, making it one of the largest corporate holders of ￰9￱ accumulation trend has become a defining feature of the current market cycle, with other companies such as Sharplink Gaming and Bit Digital also expanding their ETH ￰10￱ large-scale institutional buying reinforces the bullish continuation narrative and sets Ethereum apart as the leading altcoin for long-term ￰11￱ accumulation, macro conditions and legal clarity in the US are playing a vital role in Ethereum’s ￰12￱ clearer regulatory environment is attracting more institutions, which now see ETH not only as a key player in decentralized finance but also as an asset with growing ￰13￱ shift in sentiment is fueling expectations for Ethereum to outperform in the coming ￰14￱ the same time, liquidity dynamics are ￰15￱ are reporting declining ETH balances, while OTC desks such as Wintermute highlight a fast-paced decline in ￰16￱ suggests that supply is increasingly being absorbed by institutions and long-term holders, leaving fewer coins available on the open ￰17￱ combination of institutional demand, regulatory clarity, and shrinking supply creates a powerful backdrop for ￰18￱ short-term volatility may persist, the underlying fundamentals point to a market primed for continuation toward new ￰19￱ Chart Signals Strength Ethereum’s weekly chart shows that the asset is in the middle of a significant test after its surge to new highs above $4,800.

Following that rally, ETH retraced sharply, now trading around $4,422, reflecting a volatile but healthy correction after weeks of steep ￰20￱ this drop, the chart still shows ETH maintaining its broader bullish ￰21￱ 50-week moving average (blue line) is curving upwards, signaling renewed momentum after months of consolidation earlier this year. Meanwhile, the 100-week (green) and 200-week (red) moving averages remain well below the current price, reinforcing that ETH is still in a strong macro ￰22￱ retracement seems to be finding support around the breakout zone of $4,200–$4,400, which could act as a new base if bulls defend ￰23￱ most notable takeaway is how ETH has broken free from its long consolidation between 2022 and early 2025, where the price struggled under $3,000.

That multi-year resistance zone has now flipped into strong support, suggesting the potential for Ethereum to sustain higher levels in the months ￰24￱ image from Dall-E, chart from TradingView