$ETH hit its lowest level since 2023 overnight. Testing price zones not seen in over 3 years. And the Bitmine chairman said "50x from here" when ETH was at $1,800.

Ethereum opened at $1,768.86 on Friday and ticked lower to $1,666.52 — continuing its descent alongside Bitcoin's correction.

At current levels — $1,500-$1,600 — ETH is testing support zones that historically have been some of the most significant in its history.

Here's the ETH floor analysis:

🟡 $1,600-$1,700: current zone— first real floor attempt

🟡 $1,400-$1,500: on-chain miner cost basis level

🟢 $1,200-$1,300: extreme capitulation — 2022 bear market parallel

And here's what makes today different from 2022:

In 2022 at $1,000 — there were NO ETH spot ETFs. No staking ETF path. No CLARITY Act. No Fannie Mae mortgage collateral. No Bitmine treasury. No 17-day ETF reversal signal.

Today at $1,500 — ALL of those exist.

The Bitmine chairman called current levels "future optionality at a discount." That was at $1,800. At $1,500 — the discount just got bigger.

📊 ETH today:

— Price: ~$1,500-$1,600 — extreme floor zone

— ETH ETF: Day 2 of inflow reversal ✅

— Bitmine: 50x thesis — more compelling at lower price ✅

— Standard Chartered: $7,500 — unchanged ✅

— Support: $1,400-$1,500

Same thesis. Bigger discount. The math just got more interesting.

#Ethereum #ExtremeFloor #FutureOptionality #BinanceSquare #SatoshiEraBitcoinDormantAddressMoves