Bitmine Ethereum Holdings Claim #1 Spot, ETH Next Target Now?

Bitmine Ethereum Holdings Surpass Billions: ETH Price Targeting $4.5K

Bitmine Immersion Technologies INC News today is making headlines in the crypto market, but why? 

According to Wu Blockchain recent data, Bitmine Ethereum Holdings have now crossed a jaw-dropping $4.96 billion, making the company the world’s largest $ETH treasury.

As of August 11, Bloomberg data confirms the company now owns 1,150,263 tokens valued at $4,311 each. This massive purchase came in just a week, growing from 833,137 ETH to over 1.15 million.

Thomas “Tom” Lee, Chairman of BitMine’s Board and a well-known voice from Fundstrat, called it “lightning speed in the company’s pursuit of the alchemy of 5% of the token.”

From a crypto analyst’s perspective, I believe this sheer accumulation is more than just a flex, actually it’s a statement of dominance in the digital asset treasury race, ranking as the most prominent leader.

$ETH Price Crash Today, But BitMine News Fuels Bull Run

At the time of writing, its market price is currently around $4,179.91, slipping 0.43% in the past 24 hours, with daily trading volume down 10.82% to $37.1 billion. 

While this hints at a short-term Ethereum price crash today, Coin Bureau reports; its open interest has climbed to $13.75B, its highest level in 17 months, signaling a bullish Ethereum price $4.5K breakout potential in the coming weeks.

This contrast between price pullback and Bitmine ETH holdings surpass billions creates a unique setup. 

ETH Support and Resistance Levels Today Hint at Crucial Price Decision

Looking at the daily charts of this one of the largest altcoin shows a RSI of 69 — just below overbought territory, suggesting that buyers still have the upper hand but profit-taking could appear soon.

The MACD remains bullish, with green histogram bars, although the slope has begun to flatten, as seen in the TradingView chart.

Key levels are now crystal clear:

• Support: $4,050 — the area where buyers previously defended the price strongly.

• Resistance: $4,350 — the ceiling failed to break constantly.

If $ETH price USD clears $4,350, the next target could be $4,500+. But a slip below $4,050 may push prices toward $3,900. For traders, this is the zone where market action is likely to emerge.

Conclusion: Ethereum Next Target $4.5K Near or More Pain?

While there’s chatter about a crash today, the bigger picture is different. The combination of Bitmine Ethereum Holdings, and technical setups pointing Ethereum price prediction $4.5K could be tested soon.

If buying momentum continues, then this target remains intact. However, overbought signals and psychological resistance near recent highs could mean short-term volatility before any sustainable run.

As always, investors should balance optimism with caution, especially in a market where sentiment can turn on a single headline, and always do your own research before investing in any cryptocurrency.