As the Ethereum (ETH) price retests a crucial support zone, BitMine revealed 
it has added another $110 million worth of ETH to its treasury holdings over 
the past week, approaching an important milestone for the company’s investment 
strategy. Related Reading: Solana At Risk Of Breakdown After Key Rejection – 
Is $100 Next? BitMine’s Ethereum Bet Continues On Tuesday, BitMine, a Bitcoin 
and Ethereum Network Company with a focus on accumulating crypto for long-term 
investment, announced its holdings had reached 4.2 million ETH tokens after 
acquiring 35,268 ETH, worth roughly $110 million, in the past week. As a 
result, the company, which is the largest Ethereum Treasury company in the 
world and the second-largest global treasury, has crypto and cash holdings 
totaling $14.5 billion at current prices. According to the announcement, the 
company now owns 4,203,036 ETH at $3,211, 193 Bitcoin (BTC), a $22 million 
stake in Eightco Holdings as part of its “Moonshots” initiative, and 
unencumbered cash worth $979 million. After the latest purchase, BitMine now 
holds 3.48% of ETH’s total supply, and nears its goal to control 5% of the 
leading altcoin’s 120.7 million supply. Notably, it has achieved nearly 70% if 
“Alchemy of 5%” target in just six months. BitMine’s chairman, Thomas “Tom” 
Lee, stated that “Ethereum’s price ratio to Bitcoin, or ETHBTC, has been 
steadily climbing since mid-October. In our view, this reflects investors 
recognizing tokenization and other use cases being developed by Wall Street 
are being built on Ethereum.” As of January 19, 2026, BitMine’s total staked 
ETH stands at 1,838,003, worth $5.9 billion at $3,211 per ETH, an increase of 
581,920 ETH in the past week. ETH Price At Crucial Support Zone Despite 
BitMine’s constant bet on the cryptocurrency, Ethereum retraced nearly all its 
2026 gains after falling below the $3,000 barrier. On Tuesday, ETH recorded a 
6.8% decline in the daily timeframe, dropping from the $3,200 area to a three- 
week low of $2,980. The King of altcoins has been trading between the 
$2,600-$3,350 area since the November pullbacks, reclaiming the upper zone of 
this range during the start of the year rally. Now, ETH is retesting an 
important multi-support area that could define the cryptocurrency’s short-term 
performance. Analyst World of Charts affirmed that there are two “simple” 
possibilities for Ethereum. If the price loses the $3,000 area, which serves 
as the mid-zone of its local range and a key macro support and resistance 
level, then a retest of the $2,600 lows becomes likely. On the contrary, if 
the altcoin holds this zone in the daily timeframe and momentum builds, it 
could retest the range’s upper boundary resistance again. Related Reading: 
Bitcoin Senses Risk As Trump Balks At Europe With Major Tariffs Amid the 
pullback, another pseudonym market observer also pointed out that ETH is 
currently retesting its 50-day Moving Average (MA), which was reclaimed at the 
start of the year and currently sits at the $3,089 level. According to the 
post, if the 50-day MA holds, a move to the 200-day MA, located around the 
$3,650 area, could come next. “All eyes [are] on a close above the 50-day MA, 
which will point to a successful back test,” he added. As of this writing, ETH 
is trading at $2,999, a 7% decline in the weekly timeframe. Featured Image 
from Unsplash.com, Chart from TradingView.com

BitMine’s Ethereum Holdings Near 3.5% Supply Milestone As ETH Falls Below $3,000

Bitcoin price started a fresh decline below $90,000. BTC is consolidating 
losses and remains at risk of more losses if it dips below $88,000. Bitcoin 
started a sharp decline below $92,000 and $90,000. The price is trading below 
$90,000 and the 100 hourly Simple moving average. There is a bearish trend 
line forming with resistance at $94,200 on the hourly chart of the BTC/USD 
pair (data feed from Kraken). The pair might continue to move down if it stays 
below the $92,000 zone. Bitcoin Price Dips 5% Bitcoin price failed to stay 
above the $92,500 support and started a fresh decline. BTC declined sharply 
below the $91,000 and $90,500 support levels. The bears even pushed the price 
below $90,000. A low was formed at $87,784, and the price is now consolidating 
losses. There was a minor recovery wave above $88,500, but the price stayed 
below the 23.6% Fib retracement level of the recent decline from the $95,475 
swing high to the $87,784 low. Bitcoin is now trading below $90,000 and the 
100 hourly Simple moving average. If the price remains stable above $88,000, 
it could attempt a fresh increase. Immediate resistance is near the $89,600 
level. The first key resistance is near the $90,000 level. The next resistance 
could be $91,650 or the 50% Fib retracement level of the recent decline from 
the $95,475 swing high to the $87,784 low. A close above the $91,650 
resistance might send the price further higher. In the stated case, the price 
could rise and test the $92,000 resistance. Any more gains might send the 
price toward the $94,000 level. There is also a bearish trend line forming 
with resistance at $94,200 on the hourly chart of the BTC/USD pair. The next 
barrier for the bulls could be $95,000 and $95,500. More Losses In BTC? If 
Bitcoin fails to rise above the $91,650 resistance zone, it could start 
another decline. Immediate support is near the $88,800 level. The first major 
support is near the $88,000 level. The next support is now near the $87,500 
zone. Any more losses might send the price toward the $86,200 support in the 
near term. The main support sits at $85,000, below which BTC might accelerate 
lower in the near term. Technical indicators: Hourly MACD – The MACD is now 
gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The 
RSI for BTC/USD is now below the 50 level. Major Support Levels – $88,800, 
followed by $88,000. Major Resistance Levels – $91,650 and $92,000.

Bitcoin Price Loses $90K, Traders Brace for a Volatile Next Move

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