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Galaxy Digital as institutional interest begins shifting toward event-driven 
trading. Galaxy Digital is in discussions to provide liquidity on Polymarket 
and Kalshi as prediction markets draw new attention from major trading…

Galaxy Digital weighs market making role for Polymarket, Kalshi prediction markets

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Ethereum price started a recovery wave above $2,850. ETH faces resistance near 
$3,000 and might start a fresh decline in the near term. Ethereum started a 
recovery wave above $2,800 and $2,850. The price is trading above $2,850 and 
the 100-hourly Simple Moving Average. There is a key bearish trend line 
forming with resistance at $2,970 on the hourly chart of ETH/USD (data feed 
via Kraken). The pair could continue to move down if it settles below the 
$2,840 zone. Ethereum Price Faces Resistance Ethereum price managed to stay 
above $2,650 and started a recovery wave, like Bitcoin. ETH price was able to 
climb above the $2,740 and $2,800 levels. The bulls were able to push the 
price above the 50% Fib retracement level of the downward move from the $3,058 
swing high to the $2,620 low. However, the bears seem to be active below the 
$3,000 resistance zone. There is also a key bearish trend line forming with 
resistance at $2,970 on the hourly chart of ETH/USD. Ethereum price is now 
trading above $2,840 and the 100-hourly Simple Moving Average. If there is 
another recovery wave, the price could face resistance near the $2,950 level 
and the 76.4% Fib retracement level of the downward move from the $3,058 swing 
high to the $2,620 low. The next key resistance is near the $2,970 level. The 
first major resistance is near the $3,000 level. A clear move above the $3,000 
resistance might send the price toward the $3,050 resistance. An upside break 
above the $3,050 region might call for more gains in the coming days. In the 
stated case, Ether could rise toward the $3,120 resistance zone or even $3,250 
in the near term. Another Drop In ETH? If Ethereum fails to clear the $2,950 
resistance, it could start a fresh decline. Initial support on the downside is 
near the $2,840 level. The first major support sits near the $2,780 zone. A 
clear move below the $2,780 support might push the price toward the $2,740 
support. Any more losses might send the price toward the $2,650 region in the 
near term. The next key support sits at $2,550 and $2,500. Technical 
Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the 
bullish zone. Hourly RSI &#8211; The RSI for ETH/USD is now above the 50 zone. Major 
Support Level – $2,800 Major Resistance Level – $2,950

Ethereum Price Approaches Key $3K Test, Recovery Momentum at Inflection Point

Ethereum is fighting to hold the $2,800 level after a brutal correction that 
has erased more than 45% of its value since late August. The sharp decline has 
flipped market sentiment decisively bearish, with many traders fearing that 
ETH has entered a prolonged downtrend. Bulls are struggling to establish a 
reliable support level, and the lack of strong buy-side reaction so far has 
only intensified uncertainty. Liquidity continues to thin out across major 
exchanges, reinforcing the narrative that the market is still deep in a risk- 
off phase. Related Reading: Anti-CZ Whale Loses Big: $61M in Profit Wiped Out 
As Ethereum and XRP Longs Collapse Yet, despite the heavy selling pressure and 
underwhelming price performance, not all major players are stepping back. In 
fact, some are doubling down. Fresh on-chain data from Lookonchain reveals 
that Tom Lee’s Bitmine — a well-known crypto-focused investment 
operation—continues to buy ETH aggressively at current prices. Bitmine has 
been one of the few entities consistently adding to its position during the 
downturn, signaling strong conviction that Ethereum remains undervalued in the 
long term. This divergence between retail fear and whale accumulation is 
becoming increasingly notable. As ETH hovers around a critical psychological 
level, the coming days may determine whether this whale&#8217;s confidence 
translates into broader market stabilization or remains an isolated bet 
against the prevailing trend. Bitmine’s Aggressive Accumulation Signals 
Confidence According to Lookonchain, Tom Lee’s Bitmine has continued its 
aggressive accumulation, purchasing another 28,625 ETH worth $82.11 million. 
This move reinforces the growing narrative that some of the market’s most 
sophisticated players are positioning for a rebound despite the prevailing 
fear and relentless selling pressure. Large-scale buying during deep 
corrections has historically aligned with early reversal zones, and Bitmine’s 
conviction adds weight to the idea that Ethereum may be approaching a 
significant turning point. Still, a recovery is far from guaranteed. ETH 
remains trapped near the $2,800 zone, a level that has acted as a fragile line 
of defense during this downturn. For momentum to shift, Ethereum must not only 
hold this area but also reclaim the $3,000 mark, which has now flipped into an 
important resistance zone. A decisive move above this level would signal that 
buyers are finally stepping back in with strength, potentially setting the 
stage for a broader trend reversal. Until then, the situation remains 
delicate. Bitmine’s accumulation offers a bullish signal, but without 
confirmation from price structure, Ethereum continues to walk a tightrope. A 
failure to hold current levels could invite another wave of capitulation, but 
stability here may spark the rebound whales seem to be anticipating. Related 
Reading: STH Panic Emerges as Bitcoin Crashes To $81K: Realized P/L Turns 
Negative For The First Time This Cycle Testing a Major Weekly Support Zone 
Ethereum’s weekly chart shows the asset sitting on a critical support zone 
after a steep decline from the $4,800 region. Price has now pulled back to 
around $2,800, a level that aligns closely with the 200-week moving average—a 
historically important area where ETH has often found long-term support. This 
zone previously acted as a launchpad during major market reversals in both 
2022 and mid-2023, making its defense crucial for maintaining broader 
structural strength. The recent breakdown below the 50- and 100-week moving 
averages highlights the intensity of the current selloff. Momentum clearly 
shifted in favor of bears over the past weeks, with several large red candles 
confirming aggressive distribution. However, ETH’s current stabilization 
attempt above the 200-week MA signals that buyers are finally stepping in, 
preventing a deeper slide toward $2,400. Related Reading: Bitcoin OG Owen 
Gunden Deposits Final 2,499 BTC ($228M) to Kraken – Details If Ethereum can 
hold above this support area and reclaim the psychological $3,000 level, a 
recovery structure could begin to form. But if the 200-week MA breaks 
convincingly, the market could face a more prolonged correction. Featured 
image from ChatGPT, chart from TradingView.com

Bitmine Scoops Up Another 28,625 Ethereum ($82.1M) as Market Bleeds – Details

BitMine&#8217;s growing Ethereum reserves could enhance its market influence and 
position it strategically for future crypto market shifts.
The post BitMine stock spikes as Ethereum reserves hit 60% of targeted level 
appeared first on Crypto Briefing.

Cryptocurrency price in AUD