Welcome to the US Crypto News Morning Briefing — your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee because of how whales are splitting. Institutions are quietly loading up, and Tom Lee’s BitMine is moving faster than anyone as a major on-chain pattern breaks. With Ethereum (ETH) stuck in the $3,100 range, and volatility spiking across the market, a new battle line is forming between panic sellers and high-conviction buyers.
Crypto News of the Day: BitMine Buys 9,176 ETH From Galaxy Digital OTC
Ethereum’s biggest players are suddenly split, and Tom Lee’s BitMine is moving faster than anyone. As ETH hovers near $3,100 with mixed technical signals, whales are either panic-selling at breakeven or doubling down with record-size buys. BitMine has firmly chosen its side.
Despite a sharp market downturn, BitMine continues to accumulate at scale. On-chain data from Lookonchain shows a new BitMine-linked wallet, 0x9973, receiving 9,176 ETH, valued at $29.14 million, directly from a Galaxy Digital OTC wallet.
“Despite the market downturn, Tom Lee’s Bitmine is still buying $ETH,” Lookonchain reported, highlighting Lee’s aggressive strategy.
This follows earlier activity confirming a total accumulation of 19,500 ETH in BitMine, positioning the firm among the most active institutional buyers in November.
Whales Break Pattern: Some Sell at Breakeven, Others Buy Billions
A closer look at additional on-chain transactions suggests that broader whale activity is fragmented. A long-term holder, wallet 0x0c19, has just sold 2,404 ETH tokens, valued at $7.7 million, which they had held since August 2021. At today’s prices, the whale appears to be exiting at breakeven, signaling fading confidence after years of inactivity.
