{"id":61549,"date":"2025-12-02T22:01:34","date_gmt":"2025-12-02T22:01:34","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=61549"},"modified":"2025-12-02T22:01:34","modified_gmt":"2025-12-02T22:01:34","slug":"bitmine-continues-ethereum-buying-spree-with-fresh-7080-eth-purchase","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=61549","title":{"rendered":"Bitmine Continues Ethereum Buying Spree With Fresh 7,080 ETH Purchase"},"content":{"rendered":"
\n

Ethereum has fallen below the $2,800 mark after a sharp and sudden decline, deepening market anxiety and raising fresh questions about whether a broader bearish phase may be emerging. The drop has undermined bullish momentum, with buyers struggling to defend key support levels as selling pressure accelerates across both spot and derivatives markets.<\/p>\n

Sentiment has deteriorated quickly, and several analysts are beginning to openly discuss the possibility of a sustained bear market if ETH fails to stabilize soon.<\/p>\n

Yet amid the growing panic, a notable counter-signal continues to attract attention: Bitmine\u2019s ongoing accumulation. Despite ETH\u2019s decline, the firm has repeatedly added to its holdings, purchasing thousands of ETH over the past several weeks. Bitmine\u2019s persistent buying behavior suggests that at least some large players still view the current correction as an opportunity rather than a risk.<\/p>\n

For investors searching for signs of resilience, Bitmine\u2019s actions have become a point of cautious optimism. While the macro structure remains fragile and the downtrend intact, steady accumulation from an institutional buyer provides a potential anchor of support \u2014 and raises the possibility that a rebound<\/a> could form once selling pressure exhausts.<\/p>\n

Bitmine Expands Its Massive Ethereum Position<\/h2>\n

According to on-chain data<\/a> from Arkham, shared by Lookonchain, Bitmine has continued its aggressive accumulation strategy, purchasing an additional 7,080 ETH\u2014worth approximately $19.8 million\u2014just a few hours ago.<\/p>\n

\"Bitmine-Linked<\/p>\n

This latest buy adds to a series of repeated inflows over the past several weeks, reinforcing the firm\u2019s conviction even as Ethereum trades near multi-month lows. Bitmine\u2019s willingness to keep adding during periods of heightened volatility has become one of the most notable accumulation trends in the market.<\/p>\n

With this purchase, Bitmine\u2019s total Ethereum holdings have climbed to roughly 3.43 million ETH, now valued at around $9.6 billion at current prices. This positions the firm as one of the largest known institutional holders of ETH, and its continued accumulation stands in sharp contrast to the broader atmosphere of fear and defensive positioning. While many traders are reducing exposure amid Ethereum\u2019s sharp decline, Bitmine appears to be doubling down.<\/p>\n

Such behavior from a major entity often signals longer-term confidence in Ethereum\u2019s fundamentals, regardless of short-term price action. For investors, Bitmine\u2019s expanding position has created a counter-narrative to prevailing bearish sentiment, suggesting that deeper-pocketed players may be preparing for a recovery once the market finishes resetting.<\/p>\n

ETH Tests Weekly Support as Trend Weakens<\/h2>\n

Ethereum\u2019s weekly chart shows a significant loss of momentum, with price breaking below the 50 SMA and now sitting directly on top of the 100 SMA near the $2,750\u2013$2,800 region. This zone has historically served as an important structural support during prior corrections, making the current interaction a critical moment for the broader trend. The sharp rejection from the $4,500 level marks one of ETH\u2019s steepest weekly declines since 2022, highlighting the intensity of the current sell-off.<\/p>\n

\"ETH<\/p>\n

The 50 SMA has begun to curl downward, signaling early signs of medium-term trend weakness. Meanwhile, the 100 SMA is flattening, acting as the last dynamic support before the 200 SMA at $2,450, which represents the true long-term floor. A clean weekly close below the 100 SMA would open the door to a deeper retracement toward that level.<\/p>\n

Volume has increased during the recent decline, reflecting forced selling and derivatives-driven liquidations rather than orderly profit-taking. Despite this, the long lower wicks forming near $2,700 suggest buyers are still attempting to defend the area.<\/p>\n

Featured image from ChatGPT, chart from TradingView.com<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum has fallen below the $2,800 mark after a sharp and sudden decline, deepening market anxiety and raising fresh questions about whether a broader bearish phase may be emerging. The drop has undermined bullish momentum, with buyers struggling to defend key support levels as selling pressure accelerates across both spot and derivatives markets. Sentiment has […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-61549","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/61549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61549"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/61549\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}