On October 16, 2025, BitMine Imersion Technologies (BMNR) kept up its forceful Ethereum collection, grabbing 104,336 ETH worth around $417 million through seven Kraken transactions. And BitGo wallets, bringing its weekly total to more than 330,000 ETH worth $1.35 billion following buys of 202,037 ETH ($838M) on October 13 and October 10, 23,823 ETH ($103.7M) With 3.03 million ETH — almost $12.2 billion and 2.5% of the total Ethereum supply — BitMine confirms itself as the biggest publicly traded ETH treasury and second-largest. Behind Strategy’s Bitcoin stash, the crypto holder is advancing more than half toward Chairman Tom Lee’s goal of achieving 5% of the ETH supply via his “Alchemy of 5%.” Building on a 20% price drop from August highs and $19 billion in weekend liquidations, the company is strategically purchasing at discounted prices, with Lee predicting by year-end, ETH might be worth $10,000-$12,000 given corporate adoption, tokenization, and favorable regulations.
ETHUSD is consolidating in a narrow range between $4276 and $3892 for the past three days. It hits an intraday high of $4080 and is currently trading around $4055.
365-EMA- $4189. The pair trades below short and long-term moving averages.
Major Support – $3800. Any breach below $3800 will drag the pair down to $3500/$3000.
Major Resistance – $4300. Any break above $4300 confirms minor bullishness, a jump to $4500/$4770/ $5000/$5263.
It is good to buy on dips around $4000 with a stop loss around $3500 for target profits of $5000/$5260.
