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Ethereum, Bitmine just broke out – and $ 5,000 ETH, $ 130 BMNR can be next

Ethereum, Bitmine just broke out – and $ 5,000 ETH, $ 130 BMNR can be next


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Ethereum (Crypto: ETH) and Bitmine Immersion Technologies Inc. (NYSE: BMNR) moves in lockstep, with ETH regaining $ 4.700 and Bitmine shares more than 9% rise on the back of its massive $ 13.4 billion crypto -sour.

ETH Key Technical Levels (Source: Tradeview)

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Ethereum has broken above the triangle structure since August, which has closed the price since August, with buyers raising the sign through the $ 4600 resistance.

The trading volume and balance flow confirm renewed inflow, while moving averages from above $ 4.300 produce a strong base.

The breakdown puts $ 5,000 back into focus, with potential expansion to $ 5.200 as the momentum continues.

Analysts note that the defense of $ 4,500 to $ 4,600 is essential to maintain the move.

BMNR Technical Analysis (Source: Tradeview)

Bitmine immersion, the largest corporate Ethereum container, has advanced more than 9% to trade more than $ 62, by breaking its declining trend line and testing the top of a cup-and-handle structure.

The company has announced $ 12.83 million in $ 12.8 billion as reported on October 5, along with $ 456 million in cash and $ 113 million to equity interest.

The exposure to the balance sheet makes BMNR a direct authorized for Ethereum’s price.

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Bitmine is the world’s largest Ethereum treasury and the second largest crypto treasury in general, Behind Strategy Inc. (Nasdaq: Mstre).

Chairman Thomas “Tom” Lee said that the company’s goal is to reach ownership of 5% of the total ETH offering, calling it part of the ‘two super -bike narratives’ of artificial intelligence and cryptocurrency.

Lee told investors that Ethereum’s role as the base layer for Wall Street adoption and blockchain AI integration ‘will be one of the largest macro stamb forces over the next ten to 15 years.

The rise of Bitmine as the largest corporate holder of Ethereum is a turning point in the price of stock markets.

Unlike Bitcoin, where ETFs dominate dominance, Ethereum’s corporate treasure trove quietly forms a parallel playbook.

Bitmine’s ambition to own 5% of the ETH offering would make it bigger than most sovereign reserves and competitive traditional commodity supplies.

Story continues

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