Ethereum Price Holds as Tom Lee’s BitMine Makes Biggest ETH Buy Since June

Ethereum price is grinding steadily, but its quiet number masks a much louder signal underneath. BitMine Immersion Technologies, chairman Tom Lee’s crypto treasury vehicle, just made its largest single ETH purchase since June.

BitMine picked up 53,501 ETH worth $131 million, pushing its total stack to 5,901,112 ETH, or valued near $14.8 billion at a $2,511 reference price. That’s 4.9% of Ethereum’s entire circulating supply, putting the firm 98% of the way toward its self-described “Alchemy of 5%” target.

BitMine Adds 53,501 ETH as Holdings Reach 5.90M ETH

BitMine said it acquired 53,501 ETH over the past week, bringing total holdings to 5,901,112 ETH, or about 4.9% of Ethereum’s supply. The company has staked 5,067,309 ETH, roughly 86% of its holdings, with projected annualized… pic.twitter.com/LN80Wu7wLi

The buy also extends an unbroken streak: BitMine has bought ETH every single week since June 30, 2025, now 65 weeks running. Lee says Ethereum has outpaced the S&P 500 by 5,430 basis points this quarter alone.

This accumulation doesn’t happen in a vacuum. ETH momentum has been building since early August, and the technical picture now hinges on whether that institutional bid is enough to force a breakout.

Discover: The Best Crypto to Diversify Your Portfolio

ETH is consolidating around $2,450, inside a range bounded by a low of $2,444 and a high near $2,485 over the past day, tight action for a coin absorbing a nine-figure institutional purchase. Price is consolidating inside a rising wedge just below the critical $2,550 resistance, a level that has rejected two separate breakout attempts already.

Below, support clusters at the 20-day EMA ($2,293.75), Supertrend ($2,212.19), 200-day EMA ($2,161.32), and 100-day EMA ($2,036.88), with price currently holding above all four, a constructive if imperfect setup.

The best scenario is for it to have a clean break above $2,550, which opens a path toward $2,800. Or it could have a continued chop inside the wedge while BitMine’s weekly buying provides a soft floor.

However, the bear case happens if another rejection at $2,550 sends the price back toward the $2,161 200-day EMA. Worth watching before positioning either way.

Agree with Tom Lee’s take? Trade ETH on Bybit and Get a Chance to Win Our $1,000 USDT Airdrop

BitMine’s conviction validates the ETH accumulation thesis, but at a $2,459 price point and a $296 billion-plus market cap, the doubling and tripling that early ETH holders saw years ago isn’t realistically on the table anymore. That math is pushing traders further down the risk curve, toward infrastructure plays still in price discovery.

The ceremony starts with a single word. pic.twitter.com/vudkt5bEzI

LiquidChain ($LIQUID) is one of the names picking up that flow. LiquidChain is a Layer 3 infrastructure project fusing Bitcoin, Ethereum, and Solana liquidity into a single execution environment with a unified layer where developers deploy once and reach all three ecosystems rather than fragmenting liquidity across chains.

The presale is priced at $0.014951 with $960K raised so far. Core features include Single-Step Execution and Verifiable Settlement, aimed at solving the liquidity fragmentation problem that’s dogged cross-chain trading since day one. P

Research LiquidChain before the round progresses further.

Discover: The Best Token Presales

The post Ethereum Price Holds as Tom Lee’s BitMine Makes Biggest ETH Buy Since June appeared first on Cryptonews.