Ether Price Analysis: ETH Holding Above $4K, Arkham Says 'BitMine Is Buying the Dip'

Ether closed near $4,022.71, up 0.98%, after demonstrating resilience around the $4,000 level, with trading volume exceeding the seven-day average by 35%. Arkham reported that BitMine withdrew approximately $113 million of ETH from Bitgo, indicating a strategy of buying the dip. Bitmine Immersion Technologies disclosed that its assets now total $14.2 billion, including 3.31 million ETH, which is about 2.8% of the total supply. The firm emphasized its substantial liquidity and prominent backers, with its chairman citing easing geopolitical tensions as a potential boost to market risk appetite. Technically, traders are focused on whether the $4,000 support will hold, along with resistance levels at $4,200. While ETH investment products experienced outflows for the first time in five weeks, leveraged ETH products attracted interest, suggesting shifts in portfolio strategies. The short-term outlook remains cautiously optimistic, with possible upside targets identified at $4,250 and $5,270–$5,940 if momentum increases, while caution is warranted should the $3,965 support level fail.

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