BitMine Addresses Add 33,401 ETH — Continued Whale Accumulation Signals Bullish Supply Pressure

I note that suspected BitMine addresses received another 33,401 ETH today (≈$158M), continuing a multi-week accumulation that now totals ~379,000 ETH (≈$1.8B) since August 4.

I view this large, repeated inflow from institutional platforms as a material on-chain signal: it reduces available liquid supply and points to sustained accumulation by a whale or miner cluster, which is generally bullish for Ethereum. However, I remain cautious because some flows may represent custody consolidation rather than new demand.

I will watch exchange reserves and subsequent on-chain movement closely and prefer to scale in on weakness or confirmed price strength rather than chase a rapid short-term spike.