Key Insights:
- Tom Lee’s BitMine bought 21,054 ETH from Kraken, showing continued institutional interest.
- ETH/BTC held the 0.032 support zone, signaling potential stability for altcoins.
- Key Ethereum levels to watch include the $3,000 support, $2,900 secondary support, and $3,800 resistance.
Tom Lee’s BitMine added 21,054 ETH from Kraken in early trading hours as Ethereum price traded near key support zones.
The move happened during a slow market period, while traders tracked the ETH/BTC range and watched important trigger levels that could guide the next direction for the asset.
BitMine Added 21,054 ETH During Market Slowdown
Tom Lee’s BitMine kept buying Ethereum even though the market stayed weak. A new wallet linked to the firm received 21,054 ETH from Kraken, Lookonchain reported.
The transfer happened in earlier hours as the firm added millions to its holdings.
Notably, the move drew attention because it came at a time when Ethereum traded near important support zones.
Ethereum traded around $3,073 after a long pullback. The asset fell by 23.93% in 30 days and dropped by 11.83% in the past week.
Market sentiment remained mixed, but traders still watched how large buyers behaved. The BitMine inflow showed that the firm continued to add to its position despite the recent decline.
The wallet with the tag, 0xE2ed, became a point of interest after the transfer. The inflow placed focus on whether steady buying could help the market hold key levels.
Traders also checked whether new demand might shape the next direction if the price held steady for a while.
Meanwhile, the buying by BitMine arrived when many traders looked for signs of recovery or further weakness.
In addition, the activity showed that some large holders still built their positions near key Ethereum price zones.
This created interest around whether steady buying could support the market over time.
ETH/BTC Range Held as Traders Watched the 0.032 Level
The ETH/BTC pair remains an important guide for many traders. The ratio was tested at the 0.032 level several times during the week.
Each test showed that the level still worked as support. The Daily 200MA and EMA also moved into the same area and helped strengthen the zone.
Charts showed a breakout on the RSI and a positive cross on the MACD. The pair also held above a support block noted by market watchers.
These signs and the continuing bets from BitMine made many traders follow the range closely. A steady ratio suggested that altcoins could keep some strength against Bitcoin.
The 0.032 level acted as a clear point to watch. If the pair stayed above it, the move could support altcoins.
However, if the pair broke below it, Bitcoin could regain more strength again. The behavior of the pair played a role in how traders viewed Ethereum’s next move.
This range helped traders understand how capital shifted between major assets. The ETH/BTC pair often served as one of the first signs of a change in trend.
Market watchers believe that as Ethereum stayed near its own support zones, the pair helped show whether interest moved toward Ethereum or back to Bitcoin.
Key Trigger Levels for Ethereum Price Amid BitMine Bet
Ethereum price traded close to important trigger levels that guided its outlook amid the BitMine bet. The $3,000 area remained the main short-term support.
The $2,900 area stayed as the next support if the first one breaks. A deeper zone existed near $2,150 if the market moved into a wider correction.
Notably, the $3,800 area formed the major resistance for Ethereum price. A break above this level would show stronger momentum.
Many traders used these levels to plan their next steps. The zones helped traders prepare for both upward and downward moves.
Market participants posit that recent buying from BitMine added more interest to how the price reacted near these points.
The market continued to watch whether the support zones held and whether Ethereum showed steady strength against Bitcoin or not.
These factors shaped discussions about the asset as trading moved forward.