Ethereum (ETH) Plummets 30% in a Month: Is That the Perfect ‘Buy-the-Dip’ Moment?
A potential bargain or just the calm before a bigger drop?
CoinJournal·
BitMine tripled its weekly ETH buy to 126,971 tokens, now holding 4.59% of supply. Only 11% of ETH supply is in threefold profit, the lowest reading since Feb 2017. A weekly close below $1,500 could push ETH toward the $1,000 support zone. The Ethereum price dropped to a low of $1,522 last week before bouncing […] The post Ethereum price forecast as BitMine buys 126,971 ETH: has ETH bottomed? appeared first on CoinJournal.
Read full articleA potential bargain or just the calm before a bigger drop?
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Ethereum trades near $1,691 as bearish MACD and Aroon readings keep $1,500 support in focus, while BitMine adds 126,971 ETH on weakness now.
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Bitmine, the world’s largest Ethereum treasury, has ramped up its ETH buying during the latest crypto market correction, making the company’s largest purchase of 2026 to date. Related Reading: Analyst Charts Ethereum Long-Term Roadmap To $16,000 – There’s No Need To Panic Bitmine Doubles Down On Ethereum On Monday, Bitmine Immersion Technologies announced it had bought over 126,971 ETH, worth roughly $214 million, during last week’s dip, marking the treasury’s largest purchase so far this year. Now, Bitmine’s crypto and cash holdings sit at $9.6 billion at current prices, comprised of 5,543,872 ETH at $1,630 per ETH, 204 Bitcoin (BTC), a $180 million stake in Beast Industries, an $88 million stake in Eightco Holdings as part of its “Moonshots” initiative, and total cash worth $247 million. In a statement, Bitmine’s Chairman, Tom Lee, explained that the firm saw the recent price dip, which sent Ethereum to a one-year low of $1,505 on Sunday, as a buying opportunity, arguing that Ethereu