A whale just accumulated another $70 million, locking nearly 4.9% of the global supply into staking, but why is $ETH still hovering around the $2,491 zone?
Tom Lee’s Bitmine has just increased its total holdings to 5.93 million ETH. A key point for futures traders: most of the $70 million that was bought is being put directly into staking, clearly tightening the freely circulating supply on exchanges.
However, long-term whale accumulation doesn’t automatically mean the price will immediately rocket. Right now, $ETH is fluctuating around $2,491.46 (+0.35% in 24h)—a crucial battleground zone. My view: absolutely don’t fomo on institutional news; stay patient and wait for a clean breakout with volume confirmation before taking a position.
Do you think $ETH ’s price level is an opportunity or a risk? Check the chart for $ETH below! 👇
#ETH #Ethereum #Bitmine #Crypto
Tom Lee’s Bitmine has just increased its total holdings to 5.93 million ETH. A key point for futures traders: most of the $70 million that was bought is being put directly into staking, clearly tightening the freely circulating supply on exchanges.
However, long-term whale accumulation doesn’t automatically mean the price will immediately rocket. Right now, $ETH is fluctuating around $2,491.46 (+0.35% in 24h)—a crucial battleground zone. My view: absolutely don’t fomo on institutional news; stay patient and wait for a clean breakout with volume confirmation before taking a position.
Do you think $ETH ’s price level is an opportunity or a risk? Check the chart for $ETH below! 👇
#ETH #Ethereum #Bitmine #Crypto
