Ethereum News Today: BitMine's ETH Hoard and Trade Hopes Fuel Crypto Risk-On Rally

Ethereum (ETH) price edged higher on Monday as BitMine Immersion Technologies (BMNR) expanded its holdings by 77,055 ETH last week, bringing its total treasury balance to 3.31 million tokens—nearly 2.8% of the circulating supply, according to an FXStreet report. The firm's latest acquisitions, coupled with progress in U.S.-China trade talks, have bolstered risk-on sentiment in crypto markets, with BitMine's stock rising 6% alongside a 3% gain in ETH.

The firm's chairman, Thomas "Tom" Lee, attributed the bullish momentum to improving geopolitical dynamics, noting that Ethereum's performance has historically aligned with equity markets during periods of reduced volatility. "While crypto fundamentals are uncorrelated to equities, our analysis shows Ethereum benefits when risk appetite rises," Lee stated, citing Fundstrat research. Open interest for ETH derivatives has returned to midyear levels, suggesting a potential for further gains if the $4,270 resistance level is cleared.

BitMine's treasury now ranks as the largest public Ethereum holding, outpacing competitors like SharpLink Gaming (SBET) and The Ether Machine (ETHM), which hold 859,395 ETH and 496,712 ETH, respectively. The company also reported $305 million in unencumbered cash and a diversified asset base, including 192 Bitcoin (BTC) and an $88 million stake in Worldcoin (WLD) via Eightco Holdings. With total assets valued at $14.2 billion, BitMine trails only MicroStrategy (MSTR) as the second-largest digital asset treasury globally.

Technical indicators suggest ETH faces a critical juncture. The $4,000 level has held as a psychological support, with Arkham reporting that BitMine withdrew $113 million of ETH from Bitgo in October, signaling a "buy the dip" strategy, according to a Yahoo Finance report. Analysts at CoinDesk Research noted that while price consolidation above $4,000 is positive, a breakout above $4,250 could trigger a "risk-on" expansion phase targeting $5,270–$5,940.

Market flows remain mixed. ETH investment products recorded a $169 million weekly outflow, the first in five weeks, while leveraged ETPs attracted continued inflows, reflecting investor appetite for amplified exposure. BitMine's liquidity profile—$1.5 billion in five-day average daily volume—positions it as a key player in shaping Ethereum's near-term trajectory.