Brothers, Ether got hammered down to 2003 last night, just 3 bucks shy of 2000.
It’s at 2017 now. The daily close was the lowest since mid-August—almost three months.
Yesterday morning, when I wrote that piece about Bitmine, Ether was still at 2080. I said Ether’s biggest buyer was going to stop buying, and we hadn’t seen anyone ready to take over. It dropped 3% in a day, and we still haven’t seen anyone step in.
Bitmine holds nearly 5% of all Ether. It says it’ll stop buying once it reaches 5%. Its stock is trading below book value, so issuing shares to buy coins isn’t an option. With that buying support gone, Ether has lost its steadiest hand.
It got hammered right to the 2000 level and bounced back, which shows there are still buyers waiting below. But without new buyers coming in, the bounce won’t go very far.
Bitmine will update its holdings next Monday. I’ll let you guys know as soon as I find out whether it bought more. #Bitmine2026财年净亏损63亿美元 $ETH
It’s at 2017 now. The daily close was the lowest since mid-August—almost three months.
Yesterday morning, when I wrote that piece about Bitmine, Ether was still at 2080. I said Ether’s biggest buyer was going to stop buying, and we hadn’t seen anyone ready to take over. It dropped 3% in a day, and we still haven’t seen anyone step in.
Bitmine holds nearly 5% of all Ether. It says it’ll stop buying once it reaches 5%. Its stock is trading below book value, so issuing shares to buy coins isn’t an option. With that buying support gone, Ether has lost its steadiest hand.
It got hammered right to the 2000 level and bounced back, which shows there are still buyers waiting below. But without new buyers coming in, the bounce won’t go very far.
Bitmine will update its holdings next Monday. I’ll let you guys know as soon as I find out whether it bought more. #Bitmine2026财年净亏损63亿美元 $ETH
