- The Ethereum price drives a short-term consolidation trend, resonating within the formation of a triangle pattern.
- Bitmine acquired an additional 44,463 ETH in the last week, extending its total holding to 4,110,525 Ethereum coins.
- The 50-day EMA slope acts as dynamic resistance against market buyers amid the current downtrend.
The Ethereum price showed yet another failed attempt to reclaim $3,000 on Monday, December 29th. Earlier today, the buyers managed to hit an intraday high of $3,052, but struggled to hold its level as broader market FUD pushed price to $2,936. While the retails remain cautious due to long-consolidation in ETH price, institutional investors show strong conviction for this asset.
Bitmine’s ETH Treasury Swells to 4.1M ETH as Corporate Accumulation Intensifies
Bitmine Immersion Technologies, a NYSE American-listed public company (BMNR), announced on December 29, 2025 that its total cryptocurrency assets, cash reserves, and small investments totaled $13.2 billion.
As of December 28th, the company holds 4,110,525 ETH at an average of $2,948 per coin and 192 Bitcoin units. Additional components are $1 billion in cash and a $23 million position in Eightco Holdings (NASDAQ: ORBS), classified internally as a “moonshot” allocation. This is about 3.41% of the total circulating supply, estimated to be 120.7 million ETH.
Under the leadership of chairman Thomas Lee, formerly of Fundstrat, the company purchased another 44,463 ETH in the last week. Lee attributed the latest softness in the price of digital assets to typical year-end tax-related selling pressures that tend to peak between December 26 and 30.
Bitmine has launched staking on its portion of holdings. 408,627 ETH valued at approximately $1.2 billion is currently committed through three institutional providers. The company is developing its own Made in America Validator Network (MAVAN), which will be launched commercially in early 2026, and which aims to offer secure, domestic staking infrastructure.
Separately, Trend Research, an investment entity linked to Jack Yi increased its leveraged Ethereum position on December 28. The group added 20,850 ETH with an approximate value of $63 million at current rates, for a total of 601,076 ETH with an approximate value of $1.82 billion.
This accumulation is based on $958 million in USDT borrowed from the Aave protocol, which in the current market levels has resulted in an estimated average entry price of around $3,202, with an unrealized loss of around $110 million.
Ethereum Price Coiling For Major Breakout in 2026
Over the past week, the Ethereum price showcased low volatility trading around the $3,000 psychological. This consolidation with low volume multiple short-bodied candles with long-wick indicated market uncertainty and no initiation from buyers or sellers.
Interestingly, this sideways action is positioned at the bottom of a symmetrical triangle pattern, which consists of two converging trendlines. The dynamic resistance and support of this pattern continues to push ETH in a narrow range, before it eventually gives a decisive breakout.
This pattern, emerged after a long consolidation, could bolster sellers to recoup their exhausted bearish momentum. In addition, the decline trend in daily exponential moving averages indicate the path to least resistance is downward.
Thus, the Ethereum price could breach the bottom trendline in coming momentum and accelerate the market selling pressure. The post-breakdown fall could push the coin price 8% down to challenge the $2,600 or extend the dive to $2,375.
Alternatively, the current support of the triangle pattern could drive a temporary surge to $3,200. If materialized, the buyers have an opportunity to strengthen their grip over this asset with triangle breakout and regain recovery momentum.
Also Read: Strategy Acquires 1,229 BTC Ahead of Bitcoin’s $90,000 Break
