Key Highlights
- BitMine Immersion Technologies increased its Ethereum position to 4.66 million ETH following a 65,341 token purchase last week.
- Company Chairman Thomas Lee believes Ethereum is approaching the conclusion of a brief crypto bear phase, with the CLARITY Act serving as a potential trigger.
- Binance recorded an unprecedented $390 million in net taker volume, indicating strong aggressive buying pressure.
- Ethereum is currently trading around $2,162, registering approximately 5% gains over the last 24 hours while maintaining position above critical moving averages.
- The asset has hit its peak volume node seen in half a decade, a level that typically functions as robust price support.
Ethereum (ETH) is displaying signals of strengthening momentum as substantial institutional accumulation continues alongside compelling market indicators pointing toward robust demand.
BitMine Immersion Technologies (BMNR), a company focused on building Ethereum treasury reserves, acquired 65,341 ETH during the previous week. This acquisition brought the company’s aggregate position to 4.66 million ETH, marking their most substantial weekly purchase since December.
Thomas Lee, serving as BitMine’s chairman, revealed that the organization has maintained an accelerated acquisition strategy for three consecutive weeks. He expressed his conviction that ETH is approaching the conclusion of what he characterizes as a brief crypto bear period.
Lee further emphasized that cryptocurrency markets have demonstrated resilience throughout the current Middle East tensions. “Crypto is proving to be an effective ‘war time’ store of value,” he remarked.
Lee highlighted the CLARITY Act as an additional driver for positive outlook. The proposed legislation, designed to establish clearer cryptocurrency regulatory frameworks in the United States, is anticipated to receive presidential signature before April concludes. Lee described it as “a favorable fundamental driver for Ethereum.”
BitMine has also reactivated its ETH staking operations following a temporary suspension in February. The firm currently maintains 3.14 million ETH in staking agreements — representing roughly 67% of its complete holdings. Additionally, the company possesses 196 BTC alongside a $1.1 billion cash reserve.
Strong Market Buying Drives Net Taker Volume to All-Time Peak
From a trading perspective, CryptoQuant analyst Amr Taha identified a significant surge in Ethereum’s net taker volume on Binance. The metric reached $390 million, surpassing the earlier record of $330 million established on March 18.
Net taker volume calculates the differential between market purchases and market sales. A positive reading indicates buyers are aggressively establishing positions.
Taha connected the buying surge to enhanced market confidence following President Donald Trump’s Truth Social statement, which seemed to diminish war-related anxieties. This tonal adjustment contributed to increased interest in risk-oriented assets including cryptocurrencies.
ETH is currently valued near $2,162 as of this writing, reflecting nearly 5% appreciation over the preceding 24 hours, based on CoinMarketCap data.
Analyst Ali Charts shared on X: “From a technical perspective, Ethereum $ETH seems to be trading inside a clearly defined ascending triangle pattern on the weekly timeframe. The recent movement toward $1,800 functioned as an important reaction zone, corresponding with the upward trendline of this multi-year formation.”
Technical Analysis Suggests Near-Term Bullish Momentum
Bitcoinsensus analysts observed that ETH has arrived at its maximum volume node witnessed over the last five years. Elevated-volume nodes frequently serve as price support zones during consolidation phases.
The RSI indicator currently registers near 56, displaying moderate positive momentum while avoiding overbought territory. The MACD indicator has similarly turned upward with a green histogram, validating early recovery indicators.
ETH maintains its position above both the 50-day and 200-day EMAs, which are positioned in the $2,130–$2,136 zone. Near-term resistance is located at $2,388, while support rests around $2,108.
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