The post ETH Price Stabilizes at $3,031 as BitMine’s $9 Billion Ethereum Holdings Signal Institutional Confidence appeared on BitcoinEthereumNews.com.

Alvin Lang
Nov 29, 2025 04:40

Ethereum trades at $3,031.04 following BitMine’s expansion to 3.63 million ETH holdings, while technical indicators show mixed signals ahead of the Fusaka upgrade.

Quick Take • ETH trading at $3,031.04 (up 0.6% in 24h) • BitMine’s massive accumulation to 3.63 million ETH worth $9+ billion signals institutional confidence • Price testing 20-day moving average at $3,068 as key resistance • Correlation with Bitcoin remains strong as both assets trade sideways Market Events Driving Ethereum Price Movement The most significant development affecting ETH price this week has been BitMine Immersion’s substantial expansion of their Ethereum holdings to 3.63 million ETH, representing approximately 3% of the total circulating supply. This institutional accumulation worth over $9 billion at current prices demonstrates strong conviction from sophisticated investors despite recent market consolidation. The timing of this accumulation coincides with growing anticipation around Ethereum’s upcoming Fusaka upgrade, which has contributed to whale activity and price stabilization around the $2,900-$3,000 range. Large holders have been positioning themselves ahead of the technical improvement, providing underlying support for ETH price action. Macroeconomic factors are also playing a supportive role, with rising expectations for a 25 basis point Federal Reserve rate cut in December providing tailwinds for risk assets including Ethereum. This monetary policy outlook has helped offset broader market uncertainty and supported crypto asset valuations. ETH Technical Analysis: Consolidation Above Key Support Price Action Context ETH price currently sits just below the 20-day moving average at $3,068.86, which has emerged as the primary resistance level to watch. The current price of $3,031.04 represents a modest 0.55% gain over 24 hours, suggesting controlled price action rather than volatile swings. Notably, Ethereum is trading significantly below both the 50-day ($3,525.49) and 200-day ($3,520.37) moving averages, indicating the…

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Filed under: News - @ November 29, 2025 7:26 am