Ethereum price today: $1,980
- BitMine purchased 26,497 ETH last week, its third lowest weekly acquisition since Ethereum moved to the treasury model.
- The company’s ETH holdings are about $9 billion underwater.
- ETH could bounce off the $1,909 support.
Bitmain Immersion Technologies (BMNR) has slowed down its weekly Ethereum (ETH) accumulation, purchasing 26,497 ETH last week. This figure represents its third-lowest acquisition since the move to ETH treasury in 2025.
The latest acquisition has increased the company’s stake to 5.41 million ETH worth $10.72 billion at the time of writing. BitMine also revealed that it holds 203 Bitcoin (BTC), a $180 million stake in Beast Industries, $93 million in Atco Holdings (ORBS) shares, and a total of $446 million in cash.
“In our view, ETH prices are not reflecting the strength of Ethereum’s fundamentals, but still, this is not surprising as we are in the early stages of crypto spring,” Bitmain president Thomas Lee said on Monday. statement.
The slowdown in Bitcoin’s weekly ETH acquisitions comes after Lee’s comments that the company would reduce the pace of its purchases as it moves ahead of its original schedule of acquiring 5% of the circulating supply of ETH.
The decline in the crypto market is also affecting Bitcoin. According to CryptoQuant data, the company’s ETH holdings are about $9 billion under water.
Apart from BitMine, other digital asset treasuries (DATs) are also under pressure. Strategy, the largest crypto treasury, revealed that it sold 2.5 BTC for $32 million last week. The sale is expected to fund its preferred stock dividend.
Meanwhile, US spot Ethereum exchange-traded funds (ETFs) have recorded net outflows for the third consecutive week, indicating continued institutional risk-off sentiment, according to SoSoValue data.
Ethereum Price Forecast: ETH eyes $1,909 support
According to Coinglass data, Ethereum recorded $106.3 million in liquidations over the past 24 hours, driven by long-term liquidations of $90.3 million.
On the daily chart, ETH is extending its slide below the dense band of the exponential moving average and strengthening a bearish near-term bias. Prices remain under the 20-, 50-, and 100-day EMAs at $2,098, $2,172, and $2,269, suggesting that rallies at these levels may face resistance, limiting the upside.
Momentum readings underpin downside pressure, with the 14-day Relative Strength Index (RSI) hovering around 30 and the Stochastic Oscillator (Stoch) deep in oversold territory, suggesting selling remains prominent, but the move is getting longer.
On the positive side, initial resistance appears at horizontal resistance near $2,018, followed by $2,107 and 50-day EMA at $2,172. Further obstacles lie at $2,211 and the 100-day EMA at $2,269, before which there are strong ranges at $2,388 and $2,746.
On the downside, immediate support is seen at $1,909. If the bearish momentum continues, a break below this level would highlight the next demand zone around $1,741, before hitting deeper support at $1,524 and $1,404.
(The technical analysis for this story was written with the help of AI tools.)
