The cryptocurrency market has been volatile for the past two days, with many coins and tokens currently in the red.
Bitcoin, the top cryptocurrency by market capitalization, remains below the $69,000 level, with an increase of less than 1% in the past 24 hours.
Meanwhile, Ether, the top altcoin by market capitalization, has fallen 1% and is currently trading around $2,011 per coin.
BitMine adds more Ether to your treasury
Copy link to section
Bearish performance seen despite Ethereum ($ETH) Financial company BitMine Immersion Technologies (BMNR) added to its stash of digital assets last week, acquiring 40,613 $ETH.
BitMine currently holds 4.32 million Ethereum, approaching the 5% target of total Ethereum supply $ETHworth approximately $8.9 billion at the time of publication.
In addition, the Nevada-based company has invested $2.89 million. $ETHabout 67% of the total stash.
This latest acquisition comes as the price of Ether has fallen in recent days, in line with bearish trends in the broader crypto market.
Ether has lost 62% of its value since hitting a new all-time high last August.
However, Ethereum’s daily active addresses and transactions have surged to record levels.
BitMine Chairman Thomas Lee, while commenting on the current market situation, said that drawdowns are an annual occurrence. $ETHhighlighting that the recent decline is the 8th $ETH It’s down more than 50% from recent highs.
He added:
“$ETH We can see a V-shaped recovery from a significant low. This has happened in each of the last eight declines of 50% or more. A similar recovery is expected in 2026. After the decline, the best investment opportunity in cryptocurrencies appeared. Remember 2025? The single best entry point into cryptocurrencies came after the market plummeted due to tariff concerns. ”
With its latest acquisition, BitMine has over $7 billion in unrealized losses on its assets. $ETH Collection.
The company also holds 193 Bitcoin (BTC), $200 million in Beast Industries stock, $19 million in WorldCoin (WLD) Treasury stock, Eightco Holdings (ORBS), and a total of $595 million in cash.
$ETH Could be less than $2,000
Copy link to section
of $ETHThe 4-hour chart of /USD remains bearish as Ether has fallen below $2,100 following Monday’s rally. At press time, $ETH It is currently trading at $2,011 per coin.
If the $2,195 resistance is not overcome, Ether could face further selling pressure in the short term, with the $1,770 support level likely to be a drag for the bears.
The RSI 41 is below the neutral 50, indicating an increasing bearish trend.
The MACD line also remains below the neutral zone, adding another bearish confluence to the currency pair.
However, if the daily candlestick closes above $2,100 in the short term, Ether could rally towards the next daily resistance level at $2,388.