Overview
- On-chain tracker Lookonchain reported that BitMine bought roughly 64,000–64,622 ETH over the past 24–48 hours for about $199–$200 million.
- Blockchain traces link the latest inflows to BitGo and FalconX, including a roughly 22,676 ETH tranche secured on December 6 near $3,000 per coin.
- Following the buys, BitMine’s disclosed holdings stand near 3.73 million ETH, or about 3.08% of supply, as the firm pursues a stated target of 5%.
- Ethereum trades around $3,000 after a recent 4% daily drop, with the Crypto Fear & Greed Index near 21 and US spot ETFs logging sustained outflows.
- Analysts flag $3,000 and especially $2,600 as key supports, noting that a failure of these levels could open a path toward $2,800 or even $1,500, while on-chain data shows mid-sized wallets selling and large whales largely inactive.