Brothers, there has been a colossal movement on-chain today:
Two new wallets received large amounts of ETH 5 hours ago.
A total of 41,946 coins (approximately 130.78 million USD).
it very likely belongs to Bitmine.
Note, this is not a trade, not a portfolio adjustment, not a mutual transfer.
It is the standard institutional path of 'new addresses + large deposits + from FalconX / BitGo'.
Bitmine is back, and it has swallowed 130 million USD in one go.
This is not bottom fishing,
This is an opportunity to lock in Ethereum for the next two years ahead of time.
1. Why is this confirmed to be Bitmine?
Because the paths are too consistent:
New address creation
Assets come in through FalconX
Or enter through the BitGo custody end
Large batch
The structure is completely consistent with Bitmine's past accumulation pattern
When institutions buy large amounts of ETH, they use these two types of channels:
FalconX → Professional institutional liquidity routing
BitGo → Custody + Batch transfer system
Retail investors won't touch these two.
Regular trading volume does not follow this line.
But Bitmine will.
Thus the on-chain data gives the judgment of 'high probability belongs to Bitmine'.
Moreover, Bitmine's purchasing speed follows a pattern:
Price sideways → Absorb
Market drops → Increase
Market noise → Inaction
Poor sentiment → Buying like an embassy
Today aligns with the fourth rule.
Two, why does Bitmine buy ETH instead of BTC?
In the past six months, the whole world has been paying attention to BTC:
ETF
Large institutions
MSTR increases position
National buying
Bottom structure
Capacity cycle
But Bitmine has always been very clear:
It is betting on ETH's 'systemic re-evaluation'.
This re-evaluation logic includes:
The net deflationary structure of ETH remains robust
Now every time the on-chain heat rises, ETH enters deflation mode.
The overall L2 ecosystem is expanding exponentially
Base, Blast, Mantle, Scroll, and Linea are all accelerating growth.
ETH's position as a collateral layer is becoming increasingly solid
Stablecoins, staking, re-staking, and RWA all rely on it.
The expectations for ETF approval are significantly underestimated by the market
Before the BTC ETF was rejected, the market also ignored it.
ETH/BTC exchange rate is fluctuating at a low level → The main force prefers to collect this 're-evaluated variety' from the bottom.
So what Bitmine is doing today is not 'chasing hotspots',
But rather 'buying the future mainstream narrative in advance'.
Three, what does it mean to inject $130 million through two channels?
The details here are very crucial:
Two new wallets → Batch processing
Sources are from two institutions → Risk control
The time for entry is concentrated within 5 hours → Intentionally compressing the time window
No on-chain fragmented transactions → Non-trading, it's large OTC
No return to CEX has occurred → Non-selling, it's locking
This indicates:
It's not market behavior, it's institutional-level layout.
And institutional-level layout implies three points:
Low-cost long-term holding
Not for trading, but for reserves
Buying is for the future, not short-term fluctuations
Don't be fooled by ETH's flat performance, it's like it's dead,
But Bitmine never buys 'this week's market',
But rather 'the cycle of 2024–2026'.
Four, why does Bitmine always buy ETH at the most difficult moments in the market?
What is today's market sentiment?
BTC is faking breakouts everywhere
ETH is dead flat
Shitcoin sentiment
Weak sentiment
Intensive liquidation
The major direction has not emerged yet
ETH/BTC exchange rate is extremely weak
Retail investors will panic upon seeing this,
But what the main force sees is:
Loose chips + lazy market + low volatility range = the best buying opportunity.
Bitmine's strategy is very simple:
While others are fearful, I buy.
While others lack confidence, I buy.
While others focus on BTC, I buy ETH.
While others hesitate, I accumulate.
This is the behavior pattern of professional funds.
Five, I think:
This purchase of 42,000 ETH by Bitmine is the largest 'trend signal' for ETH this year.
The reason is very clear:
Institutional buying appears, not trading buying
This is a long-term lock-up.
$130 million is not just surface value, it's 'a confidence expression at the position level'
ETH price is not rising, yet institutions are buying aggressively, this is 'systemic undervaluation'
The real bull market is always 'bought out during the sideways period'.
This purchase did not involve any pump actions → The main force is unwilling to raise prices to accumulate
This indicates that a larger trend for ETH has not yet begun.
Bitmine's historical performance indicates:
It usually lays out an entire cycle in advance.
It never chases up, only eats the bottom.
A brutally succinct summary:
Retail investors look at K-lines, while the main force looks at cycles;
Retail investors wait for takeoff, while the main force moves goods first.
Bitmine's actions today are the first thunder of ETH's long cycle.$BTC
