BitMine Buys $83M ETH Dip as Whales Sell Into Multi-Month Lows

TLDR

• BitMine buys $83M ETH as whales sell, pushing price near multi-month lows

• BitMine adds 40,000 ETH in one day even as heavy selling drags ETH lower

• Whale exits intensify, yet BitMine keeps stacking ETH amid steep paper losses

BitMine Buys $83M ETH Dip as Whales Sell Into Multi-Month Lows as the treasury firm added Ethereum during a sharp downswing. The buying landed as large holders increased selling and pushed prices near recent lows. Meanwhile, the move reinforced a split between forced exits and long-horizon accumulation.

BitMine expands holdings during heavy selling

BitMine bought about $83 million worth of Ethereum on Monday and added 40,000 ETH in two blocks. On-chain trackers showed the firm sourced 20,000 ETH from BitGo and 20,000 ETH from FalconX. BitMine Buys $83M ETH Dip as Whales Sell Into Multi-Month Lows while other wallets sent tokens toward exchanges.

The firm added 40,613 ETH last week, and it added 41,788 ETH the week before. BitMine lifted its total to about 4.32 million ETH based on the same tracking data. However, the average cost sat near $3,850 per ETH, and the market traded near $2,040.

That gap left the position deep underwater on paper, and trackers put the unrealized loss above $7.8 billion. Still, the firm kept adding, and it maintained a debt-free posture tied to its ETH stash. BitMine Buys $83M ETH Dip as Whales Sell Into Multi-Month Lows and signals balance-sheet patience instead of short-term liquidity pressure.

Risk-off flows tighten liquidity across crypto markets

Ethereum’s slide matched broader risk-off trading, and Bitcoin products also faced pressure in recent sessions. Liquidity thinned across major venues and amplified intraday swings in large-cap tokens. BitMine Buys $83M ETH Dip as Whales Sell Into Multi-Month Lows during a market tape that punished leverage.

Moreover, several large holders shifted behavior and sent assets to exchanges during drawdowns. Those transfers increased near-term supply, and they reinforced downside momentum when bids weakened. The market priced faster moves, and it triggered more defensive positioning across majors.

Even so, Bitcoin often sets the tone for crypto sentiment, and its stability can reduce spillover volatility. Traders often treat Bitcoin weakness as a cue for broader de-risking across altcoins. BitMine Buys $83M ETH Dip as Whales Sell Into Multi-Month Lows in a cycle where cross-asset correlations still dominate.

Rotation highlights selective demand amid Ethereum stress

XRP-related inflows appeared as another rotation signal during the same period of turbulence. That shift showed selective demand, even while Ethereum absorbed heavier selling and sharp drops. BitMine Buys $83M ETH Dip as Whales Sell Into Multi-Month Lows as capital rotated instead of leaving the space uniformly.

Ethereum still faced intense on-chain movement, and price action reflected that pressure over multiple timeframes. Data snapshots showed ETH down about 1% in 24 hours, and down about 13% in seven days. It also lost more than 34% over a month, which kept sentiment anchored to downside risk.

Exchange reserves for ETH fell to multi-year lows, and that trend can reduce immediate sell supply. Long-term holders often move coins off exchanges, so fewer tokens sit ready for rapid selling. BitMine Buys $83M ETH Dip as Whales Sell Into Multi-Month Lows while that reserve drop supports a tighter float narrative.