Ether Trades Above $4,000 Amid On-Chain Signals of Tom Lee’s BitMine Accumulation

Ether Holds Firm Above $4K as BitMine Expands Treasury With $113M ETH Purchase

October 29, 2025 — Ether (ETH) maintained a firm footing above the key $4,000 level on Tuesday, as large-scale accumulation from BitMine Immersion Technologies helped reinforce market confidence despite choppy trading.

ETH traded around $4,023, recovering from a brief pullback near $4,100, with heavy volumes signaling institutional repositioning rather than retail speculation. Blockchain analytics firm Arkham Intelligence reported that BitMine withdrew $113 million worth of ETH from BitGo, describing the move as a “buy the dip” accumulation.

A recent BitMine Immersion Technologies (BMNR) update showed total assets of $14.2 billion, including 3.31 million ETH, $305 million in cash, 192 BTC, and an $88 million stake in Eightco. The company, which calls itself the largest Ether treasury, reported average daily trading liquidity of $1.5 billion, placing its stock among the most actively traded U.S. equities.

BitMine also reiterated its long-term target to hold 5% of the total ETH supply. Chairman Thomas “Tom” Lee said that easing U.S.–China tensions are improving overall risk sentiment, adding that Ether derivatives open interest has normalized to midyear levels — creating an “attractive” setup for risk-reward positioning.

Over the past week, BitMine boosted its cash reserves to $305 million and acquired 77,055 ETH, bringing its holdings to 2.8% of circulating supply.

Market Structure and Technicals
Ether continues to defend the $4,000 psychological support, with repeated rebounds suggesting strong buyer presence. Technical models from CoinDesk Research show short-term consolidation within a well-defined range.

• Primary support: $4,000
• Secondary supports: $3,965 → $3,920 → $3,780
• Initial resistance: $4,050–$4,080
• Major barrier: $4,200
• Upside trigger: Break above $4,250 could open an expansion toward $5,270–$5,940

ETH closed up 0.98% at $4,022.71, within a $211 range between $4,102.69 and $4,018.51. Trading volume surged 35% above the weekly average, with 549,762 contracts exchanged — consistent with steady institutional flows.

Analysts pointed to a potential double-bottom formation near $4,000, signaling waning selling pressure and accumulation at key levels. As long as ETH holds above $4,000, the bias remains constructive, with a breakout above $4,200 likely to extend momentum toward the $4,500 zone.