Quick overview

Live ETH/USD Chart

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Ethereum has recovered significantly, and a major institutional player has benefited following the weekend crash. Tom Lee, chairman of BitMine Immersion Technologies, has acquired approximately 202,037 ETH, increasing his holdings to over 3.03 million ETH. This purchase has increased interest in whether Ethereum’s recovery can lead to a long-term bull run.

BitMine Immersion Technologies now holds about $13 billion worth of 3.03 million ETH with the addition of 202,037 ETH, valued at $839 million. This represents nearly 2.5 percent of Ethereum’s total circulating supply of 120.7 million coins.

The purchase came after one of the most turbulent weeks in recent cryptocurrency history, during which rising US-China trade tensions caused Ethereum to fall from $4,500 to as low as $3,430. Nearly $20 billion in leveraged crypto holdings were wiped out in a single day amid a sharp sell-off sparked by President Trump’s threat to impose 100% tariffs on  China.

The company’s latest acquisition brings it over halfway toward its goal of holding 5% of Ethereum’s total supply, approximately 6.04 million ETH. Now the largest Ethereum treasury and the second-largest cryptocurrency treasury overall, behind only Michael Saylor’s Bitcoin-focused Strategy, BitMine is supported by institutional investors such as Ark Invest, Founders Fund, Pantera, and Galaxy Digital. The company currently holds over $12.9 billion in cash and cryptocurrencies, including $104 million in cash reserves, 192 BTC valued at $22 million, and a $135 million stake in Eightco.

Ethereum has risen more than 20% from its crash lows of around $3,430 to roughly $4,150, outpacing Bitcoin’s daily gain of 0.8% and leading the market’s recovery. According to Santiment data, whale accumulation has been driving this rebound, with large wallets adding about 80,000 ETH (worth roughly $330 million) since October 11. While short-term and mid-term holders continue to exercise caution, this steady, gradual buying signals growing confidence among long-term investors.

Technically, Ethereum’s price has found solid support at the $4,111 50% Fibonacci retracement level. The Relative Strength Index (RSI), currently at 46.85, shows neutral momentum but potential for growth if buying continues. Although the MACD histogram’s downward slope is starting to flatten, it remains slightly negative at -44.48, indicating that bearish momentum is decelerating.
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