BitMine's $130M ETH Buy Signals Institutional Accumulation

I view BitMine's $130 million purchase of 28,650 ETH as a clear sign of continued institutional accumulation and confidence in Ethereum's medium-term outlook. I see this as constructive for price discovery because it removes a meaningful amount of liquid supply from the market.

That level of buying implies an average entry price near $4,540 per ETH, which signals conviction at current levels and could support upside if macro conditions remain stable. I also note the risk that concentrated buying can reverse quickly if broader crypto sentiment deteriorates.

I would monitor on-chain flows and macro liquidity; personally I'd favor accumulating on weakness while respecting position sizing and diversification rules.