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Ethereum Steadies Near $2,900 as BlackRock Returns and BitMine’s Paper Loss Hits $4.25 Billion

Cboe’s December 15 ether Continuous Futures launch is the next test for institutional leverage.

Overview

  • Ether hovered near $2,900 after reclaiming the $2,800–$2,880 support box, with sellers capping advances below the $3,000–$3,230 resistance band.
  • BlackRock logged roughly $92.6 million in single-day ETH purchases, its first inflow to the asset in two weeks, according to market flow reporting.
  • BitMine disclosed a ~$3,997 average entry on a 3.63 million ETH treasury after buying about 69,822 ETH, leaving roughly $4.25 billion in unrealized losses at current prices.
  • On-chain trackers noted wallet 0x446 withdrew 10,026 ETH from Binance after a year of dormancy, while liquidation zones cluster near ~$2,773 and ~$2,991 and some whales opened leveraged longs.
  • Cross-market signals show bitcoin holding the mid-$80,000s with funding rates cooling to negative in places and liquidity pockets focused near ~$85,000 on the downside and ~$97,000–$98,000 on the upside.