Today's $ETH news roundup
1. Institutional accumulation despite market weakness
A wallet linked to BitMine received 21,537 ETH (~US$59.17 million) from OTC platform FalconX. This is part of a larger accumulation strategy by BitMine, which earlier this month also acquired 17,242 ETH and 110,288 ETH. 
➤ Why it matters: Shows that some deep-pocket players continue acquiring Ethereum even during the downturn — a possible long-term bullish signal.
2. Price consolidation and technical pivot zone
Ethereum is consolidating above ~$2,700 and is currently retesting ~$2,800 resistance. Analysts suggest the $2,800–$3,000 zone is critical for potential recovery. 
➤ Why it matters: A breakout above ~$2,800 could trigger renewed momentum. Failure could lead to deeper correction.
3. Large unrealised losses by treasury/investment firms
As ETH remains under pressure, treasury firms like BitMine are sitting on billions in unrealised losses. 
➤ Why it matters: These losses can force selling or influence decision-making. They add risk to the outlook.
🔍 What to Watch
• Critical support/resistance: ~$2,800 is a key resistance; failing to reclaim it might lead to support tests near ~$2,600/2,500. 
• ETF & institutional flows: After heavy outflows, any sustained inflows could help stabilize price and sentiment. 
• On-chain accumulation: Large wallets buying while price is weak may hint at longer-term conviction.
• Macro/crypto correlation: Broader risk-asset sentiment, regulation, and liquidity conditions still dominate near-term.
✅ Bottom Line
Ethereum is in a fragile but potentially important phase:
• On the one hand, there’s institutional accumulation and a technical zone that could act as a springboard.
• On the other hand, price remains weak, there are sizeable unrealised losses, and the broader market remains volatile.
If you’re watching ETH:
• For trading: Wait for confirmation (e.g., a clean break above ~$2,800) and set tight risk controls.
