Tom Lee–backed BitMine added over 40,000 ETH during last week’s market sell-off, doubling down on its Ether treasury strategy despite multibillion-dollar unrealized losses. Ether treasury company BitMine Immersion Technologies significantly increased its ETH holdings during last week’s market correction, signaling continued conviction in its long-term strategy despite mounting unrealized losses. The company disclosed Monday that it acquired 40,613 Ether (ETH) last week, lifting its total holdings to more than 4.326 million ETH, worth about $8.8 billion at current prices. Despite the accumulation, BitMine is currently deeply underwater on its Ether position, according to DropsTab data. Read more
Bitcoin saw the first brief period of positive Coinbase Premium since mid-January as BTC price action stabilized near $70,000. Bitcoin (BTC) saw stability after Monday’s Wall Street open as gold eyed new February highs. Key points: Bitcoin price forecasts expect BTC to bounce between Fibonacci levels after major volatility. Read more
SOL’s price has validated a classic head-and-shoulders pattern on multiple time frames, with a price target of about $50. Solana’s SOL (SOL) has dropped 38% over the last 30 days, falling to a two-year low of $67 on Friday. Multiple analysts say that the downside is not over for the seventh-placed cryptocurrency, with downward targets extending as low as $30. Key takeaways: Solana’s head-and-shoulders pattern targets a SOL price of $50 or lower. Read more