Ethereum continues to maneuver sideways, limiting upside momentum as overall market belief stays fragile. ETH struggled to determine a transparent trend, keeping price motion under pressure near key technical levels.
With internal signals mixed, the altcoin leader now appears to be increasingly reliant on external catalysts to trigger a decisive breakout.
Bitmine's confidence in the worth of Ethereum is reaching a brand new high
Bitmine recently announced that it has begun staking Ethereum from its corporate treasury, increasing long-term confidence within the network. The company currently holds 4.11 million ETH, which represents about 3.41% of the overall circulating supply. This strategic allocation makes Bitmine one in all the biggest institutional Ethereum holders on the planet.
Of the overall holdings, around 40,627 ETH price $1.2 billion have already been staked. Bitmine plans to further expand staking activities through its upcoming Made in America Validator Network (MAVAN), scheduled for early 2026.
“Broadly speaking (if Bitmine’s ETH is fully staked by MAVAN and its staking partners), the ETH staking fee is $374 million per 12 months (using 2.81% CESR), or greater than $1 million per day,” explained Galaxy Digital and personal investor Tom Lee.
Actions from Ethereum holders are being considered
Investor behavior across the Ethereum market stays divided. Long-term holders, often seen because the structural backbone of the asset, have resumed accumulation after months of sustained distribution. This shift follows nearly five months of regular outflows that had previously weakened long-term supply stability.
The renewed HODLing trend is positive for Ethereum’s recovery prospects. The long-term resilience of holders often dampens volatility in uncertain times. Their return to accumulation suggests an improvement in confidence.
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Ethereum HODLer position change. Source: Glassnode
However, whale activity represents an opposite signal. Over the last five days, addresses holding between 100,000 and 1 million ETH have sold around 270,000 ETH. At current prices, this distribution exceeds $793 million, creating significant supply pressure available in the market.
This behavior suggests that giant investors are uneasy about near-term downside risks. Whale sales often reflect defensive positioning slightly than outright pessimistic belief. Still, the lower exposure suggests that confidence in a right away recovery is proscribed.
Ethereum whale posture. Source: Santiment
ETH price expects a transparent direction
Ethereum price is at $2,941 inside an asymmetric triangle pattern, signaling indecision. The price stays capped between resistance near $3,000 and support around $2,902. This narrowing range reflects balanced buying and selling pressure, with volatility steadily decreasing because the pattern matures.
Mixed investor signals cloud the near-term direction, but Bitmine's aggressive staking strategy creates a bullish narrative. Continued optimism could help ETH reclaim $3,000 and reach a goal of $3,131 by early January 2026. A confirmed breakout would subsequently require a decisive close above $3,131.
Failure to align general sentiment with Bitmine's prospects could trigger a correction. Furthermore, a fall below $2,902 would invalidate the pattern and expose Ethereum to a decline towards $2,796. Such a move could trigger a short-term downtrend and undermine recovery expectations.
The post Tom Lee's Bitmine Stakes Over $1.2 Billion in ETH as Ethereum Waits for a Breakout Trigger appeared first on BeInCrypto.
Article source: beincrypto.com
The post Tom Lee's Bitmine stakes over $1.2 billion in ETH as Ethereum waits for a breakout trigger appeared first on Crypto Adventure.
