The crypto market experienced one of its sharpest corrections in recent weeks, with over $200 billion erased in value.
Bitcoin plunged to a seven-week low, taking Ethereum down to $4,313 before it rebounded above $4,430, showing early signs of resilience.
Fundstrat Global Advisors co-founder Tom Lee suggested that Ethereum’s lowest point may have arrived in the “next few hours.”
His projection came as ETH started to recover, hinting that the worst of the recent sell-off may be over.
Mark Newton, Fundstrat’s head of technical strategy, added that Ethereum’s current setup offers a strong risk-to-reward scenario.
“ETH is a very good risk/reward here. I am highly skeptical it breaks this trend nor breaks 4067 from 8/18.. THAT'S whats required to think a bullish stance near-term is wrong.
Ideally this should bottom out sometime in next 12 hours near 4300 and start to push up back to new highs and get above 5100 and up to near 5400-5450.”
Institutional interest in Ethereum is growing.
BitMine Immersion Technologies purchased 4,871 ETH worth $21.3 million during the recent dip, bringing its total holdings to 1.72 million ETH, valued at around $7.5 billion.
Source: Arkham
This makes BitMine the largest corporate holder of Ethereum, controlling nearly 40% of all Ether held by corporate treasuries.
The Delaware-based firm financed these purchases through operating cash flow and an existing revolving credit facility, reaffirming crypto accumulation as a central part of its capital strategy.
The trend extends beyond BitMine.
Michael Saylor’s Strategy added $357 million in Bitcoin, while BlackRock ramped up Ethereum purchases by 65% over the past 30 days, accelerating its ETH accumulation 15 times faster than Bitcoin.
Corporate Ethereum holdings surged 127% in July, reaching 2.7 million ETH valued at $11.6 billion, with 70 entities now controlling 4.3 million ETH, about 3.6% of the total supply.
Major investors appear to be shifting focus from Bitcoin to Ethereum.
One prominent whale acquired $128.32 million worth of ETH while reducing Bitcoin exposure, and even political figures reportedly joined the trend, with former US president Trump adding $8.6 million in Ethereum alongside $10 million in Bitcoin.
This rotation has helped drive a 25% monthly rally for ETH, significantly outpacing Bitcoin’s 5.3% decline.
BitMine filed for an additional $20 billion at-the-market equity offering, expanding its total stock sale capacity to $24.5 billion.
The proceeds are earmarked for further Ethereum acquisitions, targeting around 5% of Ethereum’s total supply, roughly six million tokens worth $22 billion.
Quantitative indicators also suggest Ethereum is poised for a rebound.
Updated trendlines have reinforced a more bullish structure, removing the possibility of a deep retest near $4,150.
Futures open interest for Ethereum on CME is rising alongside the price, highlighting growing institutional participation, while Bitcoin lacks similar signals.
The combination of aggressive institutional accumulation, supportive technical setups, and selective whale activity positions Ethereum for a potential short-term recovery, with analysts eyeing $5,100 to $5,450 as the next key levels.
ARK Invest bought $15.6 million worth of BitMine shares, raising its total investment in the company to over $300 million. BitMine is building a large Ethereum treasury, now holding 1.71 million ETH worth nearly $8 billion.
WeatherlyDBS has launched its first tokenised structured notes on Ethereum, breaking $100,000 investments into $1,000 units for easier trading. The notes, initially linked to cryptocurrencies, are available to accredited and institutional investors through local digital platforms.
WeatherlyBitcoin has retraced below $117,000 after reaching an all-time high last week, signaling a pause in upward momentum and growing caution among investors.
XingChiThe SEC has delayed decisions on several crypto ETFs, including Bitcoin, Ethereum, Solana, XRP, Litecoin, and Dogecoin, pushing most deadlines into October. Regulators are working on new listing standards that could allow faster approvals of altcoin ETFs once rules are finalised.
WeatherlyCitigroup plans to offer custody services for assets backing stablecoins and cryptocurrency ETFs, aiming to meet new US rules. The bank is also developing stablecoin payment solutions for faster cross-border transactions.
WeatherlyEthereum co-founder Vitalik Buterin’s on-chain portfolio has surged past the $1 billion mark, fueled by Ether’s recent price rally, according to blockchain intelligence firm Arkham.
XingChiStripe is developing its own blockchain, called Tempo, to make payments faster and cheaper while staying compatible with Ethereum. The project is linked to recent crypto-related acquisitions and could help Stripe compete with major payment networks.
WeatherlyBlue Origin now accepts Bitcoin, Ethereum, Solana, and stablecoins for booking space flights through a partnership with Shift4. This move aims to make high-cost space tourism payments easier for digital asset holders using popular crypto wallets.
WeatherlyEthereum treasury firms are buying large amounts of ETH and now hold as much as the new U.S. spot ETFs. Unlike ETFs, these companies can earn staking rewards and use DeFi, making them more attractive to some investors.
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OthersThe crypto lender’s liquidation price on its Bitcoin loan has dropped to less than $5,000, according to DeFi industry data.
CointelegraphThe United States cryptocurrency exchange has seen its stock price plunge in lockstep with Bitcoin, Ether and the broader digital asset market.
CointelegraphDespite the downward trend in the price of Bitcoin in the first quarter, the blockchain ecosystem of payment solutions centered on Bitcoin performed well.
CointelegraphDespite the fact that the Bitcoin price trended down over Q1, the Block ecosystem of payment solutions with Bitcoin in mind performed well.
Cointelegraph