Affected by the overall market weakness, the price of Ethereum tested the support level around $3000, while Bitcoin fell below $88000. The listed BitMine Immersion Technologies announced last week that it has increased its holdings by 102259 Ethereum, bringing its total holdings to approximately 3.97 million, worth about $12.2 billion. Chairman Thomas Lee stated that positive regulatory policies and support from Wall Street are the reasons for its continued accumulation, which aligns with the company's long-term "5% alchemy" goal. Analysts pointed out that maintaining the $3000 level is crucial, and if the rebound breaks through $3100, it may open the way to the resistance level of $3500.