$ETH
🚨Whale strikes again! Bitmine adds approximately 10,452 ETH, bringing its holdings close to the 5% threshold of the total supply!
Many people see a whale accumulating coins and blindly rush to go long, but this is exactly where the market can most easily trip you up.
First, take a clear look at the current market:
Ethereum is already down over 12% in October, and spot ETH ETFs continue to see outflows. BTC is fluctuating around the 80,000 mark, with bulls and bears locked in an intense struggle, so the broader direction remains unclear.
On top of that, macroeconomic pressures from this week’s Fed meeting and high oil prices have yet to ease, and external risks continue to hang over the market.
Bitmine’s large-scale accumulation reflects institutional confidence in a long-term strategy; it doesn’t mean prices will rise immediately in the short term. Market sentiment is generally subdued right now, so don’t mistake an institution’s long-term holdings for a short-term buy signal.
Key Ethereum levels in the short term
✅Support: 2280
✅Resistance: 2350
👉Trading plan:
- If the price breaks above 2350 convincingly, consider a small long position, with a target of 2420
- If it breaks below the 2280 support, follow the move with a short position, targeting 2230
⚠️My core view:
I firmly side with the bears and remain bearish on ETH’s broader direction. Whale accumulation and a short-term price decline can coexist. Always manage your risk when trading, and don’t bet big!
⚠️The above is solely my personal market opinion and does not constitute investment advice. The crypto market is highly volatile, so be mindful of position risk.#BitMine增持10452枚ETH
🚨Whale strikes again! Bitmine adds approximately 10,452 ETH, bringing its holdings close to the 5% threshold of the total supply!
Many people see a whale accumulating coins and blindly rush to go long, but this is exactly where the market can most easily trip you up.
First, take a clear look at the current market:
Ethereum is already down over 12% in October, and spot ETH ETFs continue to see outflows. BTC is fluctuating around the 80,000 mark, with bulls and bears locked in an intense struggle, so the broader direction remains unclear.
On top of that, macroeconomic pressures from this week’s Fed meeting and high oil prices have yet to ease, and external risks continue to hang over the market.
Bitmine’s large-scale accumulation reflects institutional confidence in a long-term strategy; it doesn’t mean prices will rise immediately in the short term. Market sentiment is generally subdued right now, so don’t mistake an institution’s long-term holdings for a short-term buy signal.
Key Ethereum levels in the short term
✅Support: 2280
✅Resistance: 2350
👉Trading plan:
- If the price breaks above 2350 convincingly, consider a small long position, with a target of 2420
- If it breaks below the 2280 support, follow the move with a short position, targeting 2230
⚠️My core view:
I firmly side with the bears and remain bearish on ETH’s broader direction. Whale accumulation and a short-term price decline can coexist. Always manage your risk when trading, and don’t bet big!
⚠️The above is solely my personal market opinion and does not constitute investment advice. The crypto market is highly volatile, so be mindful of position risk.#BitMine增持10452枚ETH