🚨 BitMine’s estimated $8.83B loss highlights a massive divergence between ETH’s market price and on-chain realized costs. While the asset faces intense pressure, smart money often accumulates during such capitulation phases.

Market implication: ETH may test lower lows before stabilizing, but extreme drawdowns often precede recovery rallies.

Will ETH find a bottom soon, or is more pain ahead? #Ethereum #CryptoMarkets

$ETH #TradingSignal #CryptoAnalysis