Key factors:
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Ether positive factors practically 6% on the day as BitMine ups its ETH accumulation plans to almost $25 billion.
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Chairman Tom Lee will get Michael Saylor comparisons as evaluation says ETH worth motion is “defying gravity.”
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Bitcoin continues to vary under $120,000, shrugging off cool US CPI information.
Ether (ETH) neared $4,500 Tuesday as main company shopping for plans gave the most important altcoin one other main increase.
Ether worth comes inside $500 of all-time highs
Data from Cointelegraph Markets Pro and TradingView confirmed ETH/USD reaching $4,457 on Bitstamp — its highest since December 2021.
Now below $500 from all-time highs, the pair crushed resistance after blockchain know-how agency BitMine Immersion Technologies introduced plans to elevate as much as $20 billion for ETH purchases.
The transfer, which dietary supplements the agency’s present providing, permits for whole ETH holdings value $24.5 billion. The day prior, BitMine disclosed $4.96 billion in ETH.
A Tuesday submitting with the US Securities and Exchange Commission (SEC) confirms:
“With this Prospectus Supplement, we’re rising the entire quantity of Common Stock that could be bought below the Sales Agreement to as much as $24.5 billion, comprising of as much as $2.0 billion below the Prospectus, $2.5 billion below the Prior Prospectus Supplement, and an extra $20.0 billion below this Prospectus Supplement.”
BitMine inventory was up 5.6% on the day on the time of writing, with ETH/USD gaining an identical quantity.
Market members had been unsurprisingly bullish on the outlook for ETH worth energy.
“$ETH has surged greater than 100% in lower than two months,” crypto dealer, analyst and entrepreneur Michaël van de Poppe famous in a submit on X.
“This transfer is akin to the $BTC ETF launch, when Bitcoin continued to rally upwards. We’ll possible see a brand new ATH for $ETH after which some consolidation. There’s far more to come back for this cycle.”
Crypto investor and entrepreneur Ted Pillows likened BitMine chairman Tom Lee to Strategy CEO Michael Saylor, who oversaw the buildup of the most important Bitcoin (BTC) company treasury.
We lastly bought our $ETH Michael Saylor.
Bitmine desires to purchase $20,000,000,000 Ethereum.
Lets gooooooo 🔥 pic.twitter.com/5XHJdnyNqf
— Ted (@TedPillows) August 12, 2025
“$ETH is defying gravity,” Keith Alan, co-founder of crypto buying and selling platform Material Indicators, continued.
Alan stated a possibility to purchase the dip on the 21-day easy shifting common (SMA), at present at $3,822, can be a “present.”
Earlier, Cointelegraph reported that ETH worth targets now embrace $20,000 per coin.
Not all doom and gloom for Bitcoin
Bitcoin in the meantime continued to vary after a failed try and crack all-time highs the day prior.
Related: Bitcoin will get $95K goal as ‘ugly’ BTC worth candle spoils breakout
Positive macro information within the type of the US Consumer Price Index (CPI) failed to spice up momentum, with altcoins taking the highlight.
The July CPI print got here in 0.1% under expectations, lending weight to the Federal Reserve reducing rates of interest at its subsequent assembly in September — a key crypto and risk-asset tailwind.
Commenting on market construction, nonetheless, common dealer and analyst Rekt Capital had motive for optimism.
BTC/USD, he revealed, was nonetheless trying to type recent assist after breaking by way of a multiweek downtrend.
“And if worth can proceed to keep up stability right here (even perhaps within the type of a Bull Flag), worth may try one other revisit of the Range High above (blue),” he concluded alongside a print of the every day chart.
This article doesn’t comprise funding recommendation or suggestions. Every funding and buying and selling transfer includes danger, and readers ought to conduct their very own analysis when making a call.
