Bitmine made its largest ETH purchase this year despite Tom Lee's slowdown suggestion
Hex37's read
- Bitmine acquired 111,942 ETH for $237 million.
- This is Bitmine's largest ETH purchase of the year.
- The purchase was made to capitalize on ETH's price dip below $2,200.
What it means for traders
- Significant institutional buying suggests potential bottoming or accumulation phase for ETH.
- Traders may consider long positions on ETHUSDT anticipating a rebound from current levels.
Affected markets
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