- BitMine buys $140M in ETH, boosting its treasury to nearly 4M ETH.
- US Bitcoin and Ethereum ETFs saw $582M in combined outflows.
- Ethereum trades near $2,950, capped by EMAs, with support at $2,900.
Ethereum price forecast remains cautiously optimistic as the cryptocurrency struggles to maintain momentum, trading near $2,950 after slipping roughly 12% over the past week.
While Ether has avoided a decisive breakdown, the broader market, including Bitcoin (BTC), shows signs of fatigue amid waning participation and cautious trading behaviour.
BitMine adds $140M ETH in the dip
As the price of Ethereum (ETH) fell below $3,000, Tom Lee’s Ethereum treasury firm, BitMine, reportedly acquired an additional $140 million worth of ETH on Monday, bringing its total holdings to nearly 3.97 million ETH, valued at approximately $11.6 billion.
This acquisition aligns with BitMine’s long-term goal of securing 5% of the circulating Ethereum supply, signalling strong confidence in the asset despite current market weakness.
The firm’s aggressive accumulation strategy has continued throughout the year, with notable purchases of over 240,000 ETH in early December alone.
Following the ETH purchase, BitMine stock closed higher on Tuesday, reflecting investor optimism around its treasury strategy.
ETF outflows signal macro-driven caution
While BitMine strengthens its Ethereum holdings, institutional investors appear to be trimming risk elsewhere.
US-listed Bitcoin ETFs and Ethereum ETFs experienced combined outflows of roughly $582 million on Monday, marking the largest daily redemptions in two weeks.
Bitcoin ETFs alone saw $357.6 million in net outflows, while Ethereum ETFs reported nearly $225 million.
Analysts suggest these withdrawals reflect macro-level de-risking tied to volatility in US equities and uncertainty over Federal Reserve policy rather than crypto-specific stress.
But despite these ETF flows, the structural foundation for Ethereum and Bitcoin remains robust, with long-term holders continuing to support the market, although short-term volatility has heightened as traders adjust exposure based on risk assets outside the crypto space.
Ethereum price prediction
BitMine’s purchases demonstrate corporate conviction in Ethereum’s long-term prospects, even as Ethereum ETFs show temporary withdrawals.
The juxtaposition of aggressive treasury accumulation and institutional caution underscores the mixed signals that traders must navigate.
From a technical standpoint, Ethereum (ETH) is currently trading in a late-stage corrective phase, with resistance defined by declining exponential moving averages (EMAs).
Price remains below the 20-day EMA near $3,075 and the 50-day EMA around $3,250, limiting the potential for a sustained rebound.
Spot outflows persist, totalling roughly $18.7 million, while open interest has declined to approximately $37 billion as leverage unwinds.
However, technical indicators, including the daily RSI, suggest weakening downside momentum but have yet to signal a bullish reversal.
The immediate support is found around $2,900 to $2,880 and a decisive break below this range could open the path to $2,700–$2,750, where deeper buying may emerge.
On the upside, reclaiming and holding above $3,075 would indicate diminishing selling pressure, while a move toward $3,250 would require a meaningful shift in volume and spot flows.
Kommentar hinterlassen