Ether Steadies Above $4K as BitMine Adds $113M ETH, Signals Confident Accumulation
October 29, 2025 — Ether (ETH) held firm above the key $4,000 mark on Tuesday, with steady buying interest and renewed institutional activity helping the token recover from brief intraday weakness.
ETH traded near $4,023, rebounding after a dip from around $4,102, while trading volumes climbed well above weekly averages. Blockchain intelligence firm Arkham reported that BitMine Immersion Technologies withdrew roughly $113 million worth of ETH from BitGo, describing the move as part of a “buy the dip” strategy.
In a press release issued earlier this week, BitMine (BMNR) disclosed $14.2 billion in combined assets spanning crypto holdings, cash, and venture positions. The firm said it holds 3.31 million ETH, $305 million in cash, 192 BTC, and an $88 million stake in Eightco, positioning itself as one of the largest Ether treasuries globally.
BitMine also highlighted its robust trading liquidity — around $1.5 billion in five-day average dollar volume — placing it among the top 50 most actively traded U.S. equities. The company reiterated its long-term goal of controlling 5% of total ETH supply.
Chairman Thomas “Tom” Lee said that easing U.S.–China tensions are improving global risk sentiment, and that Ether derivatives open interest has normalized to midyear levels. “The setup looks increasingly favorable from a risk/reward standpoint,” Lee added.
During the week, BitMine expanded its cash reserves to $305 million and accumulated 77,055 ETH, bringing its total holdings to about 2.8% of ETH’s circulating supply.
Market Structure and Technicals
Ether’s repeated defense of the $4,000 level underscored strong market support, even as price action remained confined within a narrow range. Analysts at CoinDesk Research noted that dips continued to attract buyers, with fading sell pressure into the close.
- Primary support: $4,000
- Secondary support: $3,965 → $3,920 → $3,780
- Initial resistance: $4,050–$4,080
- Major barrier: $4,200
- Bullish trigger: A sustained break above $4,250 could extend gains toward $5,270–$5,940
ETH ended the session up 0.98% at $4,022.71, after trading within a $211 range between $4,018 and $4,102. Volume spiked 35% above its seven-day average, with over 549,000 contracts changing hands — a sign of institutional repositioning rather than retail volatility.
Technical indicators suggest a double-bottom formation around $4,000, signaling accumulation and resilience at key support. As long as ETH holds this floor, analysts view the broader trend as constructive, with potential for a retest of the $4,200–$4,500 zone in the short term.
