**BitMine Buys Ethereum Dip; Is ETH Price Ready for $10K?**
The Ethereum market recently experienced a dip amid heightened fear of further capitulation. According to on-chain data analysis from Arkham, BitMine has purchased $300 million worth of Ether since last week, capitalizing on the recent market correction.
**BitMine Leads in High Demand for Ethereum**
Following its latest purchase, BitMine now holds Ether valued at approximately $12.4 billion at the time of this publication. The company’s significant accumulation of Ether coincides with rising demand for altcoins among institutional investors.
A weekly report from CoinShares highlights that Ethereum’s investment product registered a net cash inflow of about $57.6 million. Furthermore, at least 15 entities are holding a combined 4.75 million ETH as part of their treasury management strategies, with BitMine and SharpLink leading this trend.
**Is ETH Price Ready for the Euphoric Phase of the 2025 Bull Market?**
From a technical analysis perspective, it appears that Ether is in the early phase of a macro bull market. The large-cap altcoin, boasting a fully diluted valuation of around $434 billion, has been retesting its bullish breakout from a crucial multi-year resistance level near $3,600.
The midterm bullish outlook is supported by rising fear of crypto capitulation and notable deleveraging of long traders. Historically, the crypto market tends to move contrary to the crowd’s sentiment, often signaling upcoming positive momentum during periods of widespread fear.
In addition, a Bitcoin OG whale—known for successful trades during recent market fluctuations—has recently taken substantial long positions, holding $37 million in BTC and $18 million in Ether.
With these developments, the question remains: Is Ethereum poised to reach the $10,000 mark as the next euphoric phase of the 2025 bull market unfolds? Only time will tell, but current indicators suggest that the momentum is building.
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