- Ethereum signals strength as BitMine accelerates ETH treasury strategy.
- The ETH price bounced from lows of $3,800 last week and is holding above $4,100.
- Bitmine’s buying leads the corporate world’s interest in Ethereum, and tailwinds such as spot exchange-traded funds approval could catalyse gains to above $5,000.
While cryptocurrency markets continue to witness price turmoil, Ethereum has held above the key level of $4,000, with ETH likely to explode as investors reignite altcoin season talk.
The latest developments in the broader crypto market, as well as increased stashing of Ether by crypto treasury companies, have analysts taking an overall bullish outlook on the ETH price.
Ethereum holds $4,100 amid fresh Bitmine buy
Ethereum dropped to lows of $3,800 on September 25, 2025, but has since climbed back above the psychological $4,000 level.
Bulls even retested the supply wall area around $4,230, and have looked to hold above the $4,100 mark as altcoins show signs of fresh recovery.
Notably, Ethereum’s gains have aligned with a significant acquisition by Bitmine Immersion Technologies, the company that’s grown into the biggest ETH treasury holder among publicly-traded companies.
On September 29, Bitmine announced its ETH holdings exceeded 2.65 million tokens, valued at over $10 billion.
This disclosure, part of a broader portfolio update, revealed that Bitmine’s total crypto and cash reserves currently stand at over $11.6 billion.
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BitMine provided its latest holdings update for Sept 29, 2025:$11.6 billion in total crypto + “moonshots”
– 2,650,900 ETH at $4,141 per $ETH tokens
– 192 $BTC coins
– $157 million Eightco stake (NASDAQ-$ORBS)
– unencumbered cash $436 millionTicker: $BMNR…
— Bitmine (NYSE-BMNR) $ETH (@BitMNR) September 29, 2025
Bitmine’s aggressive ETH stashing has, in the past months, provided key price buoyancy for ETH, with bulls having faced downward pressure since the breakout to a new all-time high near $5,000 in August.
Macroeconomic headwinds have contributed to the profit-taking, but Bitmine’s substantial purchase has injected fresh upside momentum into the ecosystem.
The buy has not only helped anchor prices above the critical $4,000 support level, but has analysts pointing to a potential breakout as top altcoins eye accelerated upside momentum in the fourth quarter.
ETH price forecast as top altcoins eye ETF boost
While short-term dips remain possible if Bitcoin dominance rebounds, corporate confidence in ETH could catalyse a rebound toward $4,500.
If broader sentiment aligns with potential catalysts such as the approval of new spot exchange-traded funds by the US Securities and Exchange Commission, the Ethereum price could breach $5,000 and target the psychological magnet of $10,000.
Some market experts say this is possible, with regulatory tailwinds adding to the anticipated altcoin renaissance.
This bullish take is down to the SEC’s move to formalise its generic listing standards for commodity-based trust shares.
Not only does it allow exchanges like Nasdaq, NYSE Arca, and Cboe to get approval for spot crypto ETFs without exhaustive case-by-case reviews, but it also means a flurry of spot ETFs could hit the US market sooner than anticipated.
Crypto traders already welcomed the SEC’s direction that issuers of altcoin ETFs, including those for Solana, XRP, Litecoin, Cardano, and Dogecoin, withdraw pending 19b-4 filings.
Bloomberg senior ETF analyst Eric Balchunas summed up the outlook via a post on X:
Honestly the odds are really 100% now. Generic listing standards make the 19b-4s and their “clock” meaningless. That just leaves the S-1s waiting for formal green light from Corp Finance. And they just submitted amendment #4 for Solana. The baby could come any day. Be ready. https://t.co/5JtfTm82Wi
— Eric Balchunas (@EricBalchunas) September 29, 2025
Implications of this move are that altcoins rallying amid approval for crypto ETFs will likely have the ETH price leading the charge.