The post Bitmine Down $3.5B on ETH as Price Struggles Below $3,000 appeared on BitcoinEthereumNews.com.

 Key Insights: Bitmine’s Ethereum holdings turned sharply negative after ETH dropped below $3,000 in late October. Ethereum faces strong resistance near $3,000 while $2,800 remains the key short-term support level. A weekly inverse pattern suggests recovery only if ETH breaks and holds above $3,344. Bitmine Down $3.5B on ETH as Price Struggles Below $3,000 Recent on-chain data from CryptoQuant shows that Bitmine is holding an unrealized loss of around $3.5 billion on its Ethereum (ETH) holdings. The loss followed a steady decline in ETH’s price, which fell from over $4,000 in October to below $3,000 by late December. Between July and October, Bitmine’s ETH position was in profit, with the market trading between $3,800 and $4,800. After October, the situation reversed. As the price dropped, Bitmine’s position turned negative. The red zone on the CryptoQuant chart shows a consistent loss since early November. There has been no indication of a major sell-off or portfolio adjustment so far. Ethereum Struggles to Break $3,000 ETH recently attempted to move above the $3,000 level but was rejected. Market data shared by Ted shows that ETH remains stuck below a resistance area between $3,000 and $3,100. This zone has blocked upward moves in the past and continues to hold firm. Source: Ted/X Ethereum was trading near $2,958. If it fails to break above $3,000, a retest of the $2,800 support area may follow. That support has held several times, but if it gives way, the price could drop toward the next area of interest between $2,540 and $2,600. Weekly Chart Shows a Key Pattern Forming A weekly ETH chart shared by Donald dean shows an inverse Head & Shoulders structure. This setup is often watched for signs of trend change. The key level to watch is $3,344. This price marks both the neckline of…

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Filed under: News - @ December 26, 2025 9:17 am