The #BitMineAddsOver60KETHLastWeek hashtag, which has recently gained prominence in the cryptocurrency market, has brought the strategic moves of institutional investors towards digital assets back into the spotlight. In particular, BitMine Immersion Technologies' purchase of 60,976 Ethereum (ETH) in a single week is considered a significant development in terms of both market sentiment and institutional portfolio strategies. This move demonstrates that despite the volatile period in the crypto market, institutional actors continue to strengthen their long-term Ethereum positions. According to recent reports, BitMine purchased approximately 60,976 ETH last week. The market value of this purchase was estimated to be around $120-123 million at the time of the transaction.
Following this transaction, the company's total Ethereum holdings reached:
4,534,563 ETH
This amount corresponds to approximately 3.76% of the Ethereum supply
The total value of ETH holdings is around $9 billion
The company's total asset portfolio is over $10 billion
These figures position BitMine as one of the largest institutional Ethereum holders in the world.

Bitcoin experienced a strong rally this morning, reaching a high of around 70,550, setting a new high for this rebound. We initially planned to catch a short-term dip, but the market's strong continuation led to a small short entry. Currently, the price has just fallen back to our short entry point. Considering the larger timeframe remains bullish, the short position can be held and wait for a pullback confirmation, but overall, we should remain cautious and respect the bulls.
On the four-hour chart, this rally successfully broke through the resistance zone of 69,300-69,800 USD, creating a new high since the rebound from the low of 65,800. As long as the price does not fall below the previous high support level of 69,000 USD, the rebound structure remains intact. The MACD golden cross is still expanding, and the green bars have not significantly shortened, indicating that upward momentum has not exhausted. On the daily chart, the price has already risen above the EMA15 moving average, and the northbound channel is gradually opening. On-chain data shows that whales are still increasing their holdings, and the capital flow back into mainstream coins remains unchanged.
Today’s key support levels are in the 69,000-69,500 USD range. As long as the price stays above this zone, the market remains under bullish control. Short positions can be continued with targets at 69,000-68,500 USD, taking profits in stages, with stop-loss moved up above 70,800 USD for protection. If the price stabilizes above 69,500 USD, bulls will gather strength to challenge 71,000-72,000 USD, and a reversal to go long can be considered. Strong support below is at 68,500-68,800 USD; as long as it does not break below 67,800 USD, the medium-term bullish outlook remains unchanged.