The post Bitmine Buys $49M More ETH During Dip appeared com. Market Updates Bitmine just grabbed another $49M of ETH even while prices tank. Now sitting on 3. 5M ETH worth $10B second only to Strategy. Tom Lee says market makers are still broke from October crash, so pain lasts a few more weeks. Bitmine just scooped up another 17, 242 ETH for about $49 million on November 21. Which is pushing its total stash to roughly 3. 5 million ETH worth over $10 billion. That puts them right behind Strategy as the biggest corporate Ethereum holder. Even with ETH sliding hard to $2,780 and the whole market looking rough, Bitmine keeps stacking. The old mining outfit turned treasury giant is dead set on grabbing around 5% of all Ethereum out there someday. They fund the buys with fresh cash raises, staking rewards, and quiet OTC deals through desks like FalconX and BitGo so they don’t rattle the spot price. Why Prices Still Hurt Chairman Tom Lee told CNBC the market’s still stuck because big market makers got burned in the October 10 liquidation mess and haven’t rebuilt their balance sheets yet. He says it’s like 2022 all over again took eight weeks back then, we’re six weeks in now, so maybe a couple more weeks of pain before things loosen up. Bitmine’s own stock (BMNR) got hammered over 10% to $26. 02, but the company isn’t blinking. They see Ethereum as the backbone for DeFi, smart contracts, and tokenization for years to come. As liquidity creeps back, everyone’s watching if this aggressive dip buying pays off big. Source:.
Tag: liquidation
The post $1. 15 Billicom. Sep 27, 2025 at 22: 51 // News The end of the week was noted by extreme market turbulence, with over $1. 15 billion in leveraged positions being liquidated across major exchanges. This cascade of forced selling, which primarily affected traders in long positions, caused Bitcoin (BTC) and Ethereum (ETH) to break key support levels. Prices falling Bitcoin briefly dropped below $109, 000, with its price falling 2. 1% in the 24-hour period. Ethereum suffered an even steeper decline, dropping 3. 3% and losing the critical $4,000 level. Previously, Coinidol. com reported that Bitcoin was trading in a limited range. The price fell and broke below the current support level of $111, 000, which may cause a drop to a low of $107, 000. This sharp correction was fueled by several factors: Heavy ETF Outflows: Both Bitcoin and Ethereum spot ETFs recorded major outflows, signaling a pause in institutional buying after a period of intense activity. On-Chain Signals: Analysts noted that long-term holders were realizing profits, and the Crypto Fear & Greed Index dropped sharply to a level not seen since April, reflecting a dramatic shift toward extreme investor caution. Leverage Wipeout: The liquidation event itself was the most immediate driver, as the forced closure of over $1. 15 billion in long bets created massive selling pressure, with the majority of the losses occurring on exchanges like Bybit and the decentralized exchange Hyperliquid. Despite the short-term pain and the overall market cap facing fresh declines, this liquidation event is viewed by some analysts as a necessary “reset” that flushes out excess leverage, potentially setting the stage for a healthier market rebound in the future. Source:.