Bitmine Ethereum Holdings Surpass Billions: ETH Price Targeting $4.5K

Bitmine Immersion Technologies INC News today is making headlines in the crypto market, but why?

According to Wu Blockchain recent data , Bitmine Ethereum Holdings have now crossed a jaw-dropping $4.96 billion, making the company the world’s largest $ETH treasury.

As of August 11, Bloomberg data confirms the company now owns 1,150,263 tokens valued at $4,311 each. This massive purchase came in just a week, growing from 833,137 ETH to over 1.15 million.

Thomas “Tom” Lee, Chairman of BitMine’s Board and a well-known voice from Fundstrat, called it “lightning speed in the company’s pursuit of the alchemy of 5% of the token.”

From a crypto analyst’s perspective, I believe this sheer accumulation is more than just a flex, actually it’s a statement of dominance in the digital asset treasury race, ranking as the most prominent leader.

$ETH Price Crash Today, But BitMine News Fuels Bull Run

At the time of writing, its market price is currently around $4,179.91, slipping 0.43% in the past 24 hours, with daily trading volume down 10.82% to $37.1 billion.

While this hints at a short-term Ethereum price crash today, Coin Bureau reports; its open interest has climbed to $13.75B, its highest level in 17 months, signaling a bullish Ethereum price $4.5K breakout potential in the coming weeks.

This contrast between price pullback and Bitmine ETH holdings surpass billions creates a unique setup.

ETH Support and Resistance Levels Today Hint at Crucial Price Decision

Looking at the daily charts of this one of the largest altcoin shows a RSI of 69 — just below overbought territory, suggesting that buyers still have the upper hand but profit-taking could appear soon.

The MACD remains bullish, with green histogram bars, although the slope has begun to flatten, as seen in the TradingView chart .

Key levels are now crystal clear:

• Support: $4,050 — the area where buyers previously defended the price strongly.

• Resistance: $4,350 — the ceiling failed to break constantly.

If $ETH price USD clears $4,350, the next target could be $4,500+. But a slip below $4,050 may push prices toward $3,900. For traders, this is the zone where market action is likely to emerge.

Conclusion: Ethereum Next Target $4.5K Near or More Pain?

While there’s chatter about a crash today, the bigger picture is different. The combination of Bitmine Ethereum Holdings , and technical setups pointing Ethereum price prediction $4.5K could be tested soon.

If buying momentum continues, then this target remains intact. However, overbought signals and psychological resistance near recent highs could mean short-term volatility before any sustainable run.

As always, investors should balance optimism with caution, especially in a market where sentiment can turn on a single headline, and always do your own research before investing in any cryptocurrency.