Ether Holds Above $4K as BitMine Expands ETH Holdings, Signals Ongoing Institutional Demand
October 29, 2025 — Ether (ETH) continued to defend the $4,000 level on Tuesday, supported by fresh accumulation from BitMine Immersion Technologies and renewed institutional flows despite subdued market catalysts.
ETH traded around $4,023, bouncing after a brief pullback from $4,102, as overall trading volumes rose sharply above the weekly average. Blockchain analytics firm Arkham reported that BitMine withdrew roughly $113 million in ETH from BitGo, calling the activity part of a “buy-the-dip” accumulation strategy.
In a recent disclosure, BitMine (BMNR) reported $14.2 billion in combined crypto, cash, and venture assets — including 3.31 million ETH, $305 million in cash, 192 BTC, and an $88 million equity position in Eightco. The firm described itself as the largest Ether treasury and highlighted trading liquidity averaging $1.5 billion in daily volume, ranking it among the top 50 most traded U.S. equities.
BitMine reaffirmed its goal of controlling 5% of the total ETH supply, noting it raised cash reserves to $305 million and purchased 77,055 ETH over the past week, lifting its total holdings to roughly 2.8% of circulating supply.
Chairman Thomas “Tom” Lee said broader market sentiment has improved alongside easing U.S.–China tensions. He noted that Ether derivatives open interest has normalized to midyear levels, creating what he called “a compelling setup” for risk/reward positioning.
Market and Technical Outlook
Ether’s repeated rebounds near $4,000 reinforced that zone as a key psychological and structural support. Analysts at CoinDesk Research observed ongoing accumulation, with lighter sell pressure and an improving close on the session.
- Primary support: $4,000
- Secondary supports: $3,965 → $3,920 → $3,780
- Initial resistance: $4,050–$4,080
- Major resistance: $4,200
- Upside trigger: Sustained break above $4,250 could open targets between $5,270–$5,940
ETH ended the day up 0.98% at $4,022.71, trading within a $211 intraday range. Volume surged 35% above its seven-day average, with over 549,000 contracts changing hands — consistent with institutional repositioning rather than retail-driven volatility.
Technically, a double-bottom formation near $4,000 suggests buyers continue to absorb supply. As long as ETH maintains this base, analysts view the setup as constructive, with a potential move toward the $4,200–$4,500 resistance zone in the near term.Bitcoin Trades Flat Around $113K as Market Liquidity Tightens Ahead of Fed Policy Week
