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Ethereum continues to trade sideways, limiting bullish momentum as broader market sentiment remains fragile. ETH struggled to identify a clear trend, which kept price action compressed near key technical levels.
With mixed internal signals, it appears that altcoin leadership has become increasingly dependent on external catalysts to trigger a decisive breakout.
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Bitmine’s confidence in the value of Ethereum reaches a new high
Bitmine recently revealed They started taking Ethereum from corporate treasurers, increasing long-term trust in the network. The company currently has 4.11 million ETH, which represents about 3.41% of the total circulating supply. This strategic allocation places Bitmine among the largest institutional holders of Ethereum in the world.
Of its possible total, about 40,627 Ethereum worth $1.2 billion have already been invested. Bitmine plans to expand its storage operations with the upcoming Made in America Verification Network, or MAVAN, scheduled for early 2026.
“At scale (when Bitmine’s ETH is fully stacked by MAVAN and its partners), ETH staking fees are $374 million per year (using 2.81% CESR), which is more than $1 million per day,” said Tom Lee, personal investor of Galaxy Digital.
Actions for Ethereum holders take into account
The behavior of investors in the Ethereum market remains divided. Long holders, often seen as the structural backbone of the asset, have resumed accumulation after months of continuous distribution. The change comes after nearly five months of sustained flows that previously weakened long-term supply stability.
The renewed trend in hoddling management is beneficial For Ethereum’s recovery prospects. The flexibility of long-term holders often reduces volatility during uncertain periods. Its return to accumulation indicates improved confidence.
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However, whale activity offers a mixed signal. In the last five days, addresses containing between 100,000 and 1 million ETH were sold for about 270,000 ETH. At current prices, this distribution exceeds $793 million, which adds significant pressure on the supply in the market.
This behavior indicates that large owners are uncomfortable with downside risks in the near term. Whaling often reflects defensiveness rather than a bearish conviction. However, Low exposure indicates High confidence in immediate recovery.
The ETH price expects a clear trend
The price of Ethereum is at $2,941 in an asymmetric triangle pattern, which indicates indecision. The price remains trapped between resistance near $3,000 and support around $2,902. This reduced range reflects a balance of buying and selling pressure, gradually increasing in volatility as the pattern matures.
Mixed investors point to a bearish trend, but Bitmine’s aggressive undervaluation strategy presents a positive narrative. Continued optimism can help ETH On recognizing $3,000 and targeting $3,131 at the beginning of January 2026. Therefore, a confirmed breakthrough would require a decisive stop above $3,131.
Failure to align broader sentiment with Bitmain’s expectations may lead to a correction. Also, a drop below $2,902 will invalidate the pattern, which… Ethereum shows a decline About $2,796. Such a move could lead to a short-term downward trend, undermining recovery expectations.
