ETH Extends 4-Week Bullish Run as Bitmine Buys 101,627 ETH

Ethereum entered a fourth straight bullish week, turning a previous technical setback into a measured rebound. The move followed a rejection near the 23.6% Fibonacci level around $2,228, which had triggered an 18% fall to about $1,937.

That decline, however, later became the launch point for the current advance, as weekly price action reclaimed the same Fibonacci zone. At press time, ETH traded near $2,320, up more than 2% in 24 hours, over 7% on the month, and about 48% year over year.

ETH Reclaims Key Fib Level as 4-Week Recovery Gains Strength

The weekly setup now shows Ethereum back above the 23.6% Fibonacci level that had earlier capped the token’s price. That recovery matters as the same area previously marked the point where the earlier slide began.

A rising support trendline also remains in place beneath the market, helping define the current upward structure. As long as the altcoin’s price stays above that diagonal floor, the recent four-week recovery remains technically intact. The next reference point sits near the 200-week moving average at about $2,450.

ETH 1-Week Price Chart (Source: TradingView)

That places a major chart marker just above the current market after the latest climb. Even with the rebound, the broader picture has not fully reset. Ethereum still trades below its 50-week moving average near $3,086, showing that longer-term pressure remains in place.

Bitmine Logs Strongest Weekly ETH Buy Since December 2025

Alongside the market rebound, Bitmine reported purchasing 101,627 ETH during the past week. The company described that pace as its strongest weekly buying rate since the week of December 15, 2025. The purchase lifted Bitmine’s total Ethereum holdings to 4,976,485 ETH.

Using a price of $2,301 per coin, the company valued that position at about $11.45 billion. Those holdings now account for 4.12% of the circulating supply, which stands at 120.7 million tokens. Initially, Bitmine has said it wants to reach 5% of total supply through its “Alchemy of 5%” accumulation plan.

Based on the figures it released, the company remains roughly 247,000 coins short of that target. The new purchase, therefore, narrowed the gap while pushing Bitmine closer to a stated supply milestone.

Bitmine’s $12.9B Asset Base Highlights the Scale Behind Its ETH Bet

As of press time, Bitmine also reported holding 199 Bitcoin. It listed a $200 million stake in Beast Industries and a $107 million stake in Eightco Holdings. The company said its cash balance stood at $1.12 billion.

Combined with crypto holdings and strategic stakes, those assets brought the total disclosed value to $12.9 billion. Tom Lee, Bitmine’s chairman, said the latest acquisition matched the company’s view of the current crypto cycle. He also said Ethereum had risen 41% from its early February lows.

Lee added that Ethereum had outperformed the S&P 500 by 2,280 basis points since the US-Iran war started. Together, the chart data and treasury figures showed rising price strength and expanding corporate accumulation in the same week.

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