Ethereum ( ETH ) price prediction: BitMine's massive increase in holdings successfully defending the $4000 mark will lead to the $10,000 milestone.

Despite the recent price fall, institutional investors are quietly accumulating ETH through Exchange Traded Funds (ETF), which provides a bullish basis for Ethereum's recent price predictions. Data shows that BlackRock's ETH fund alone attracted a net inflow of $512 million last week, strongly indicating investors' determination to Buy the Dips. Meanwhile, BitMine Immersion has surpassed 2% of Ethereum's circulating supply in its ETH Holdings through its latest round of acquisition, solidifying its position as the largest public ETH holder. The stark contrast between short-term price fluctuations and strong long-term institutional interest suggests that Ethereum is poised to rebound from the key support level of $4,000 and lay the groundwork for a push towards $10,000.

Ethereum Price Prediction: Price Corrections Amid Institutional Inflows

Despite Ethereum's 7.6% fall over the past week, data from Farside Investors shows that BlackRock's ETH fund alone attracted $512 million in net inflows last week, strongly indicating the determination of investors to Buy the Dips. Last week, the Federal Reserve lowered interest rates by 25 basis points as analysts expected, and market participants anticipate another cut next month. Lower interest rates tend to prompt investors to turn to risk assets such as cryptocurrencies. Data from CoinMarketCap confirms this view, with the total market capitalization of altcoins recently surpassing $1.7 trillion.

As the altcoin season officially begins, ETH seems ready for a strong rise to $10,000. Currently, Ethereum is approaching the key support level of $4,000—a former resistance level that may now become a strong launching pad for a robust rebound. In the past 24 hours, ETH has fallen by 15%, triggering over $1.5 billion in liquidations, marking the largest wave of long liquidations in six months. This aggressive 'washout' may have cleared out weak investors, setting the stage for latecomer buyers to re-enter at a discount. ETH is currently hovering near its lowest price in two months. If the price holds at $4,000 and rebounds significantly, the path to $10,000 will become increasingly likely, providing a potential upside of 140%.

BitMine significantly increases holdings, consolidating its position as the largest holder of Ethereum

BitMine Immersion, a Bitcoin mining company led by Tom Lee that has transformed into an Ethereum reserve company, stated that following its latest round of acquisition, its ETH holdings have exceeded 2% of the circulating supply of the second-largest cryptocurrency. According to reports, since the last update on September 15, BitMine appears to have purchased approximately 264,378 ETH (around $1.1 billion), bringing its total cryptocurrency and cash holdings to $11.4 billion as of Monday.

The company currently holds 2,416,054 ETH, valued at approximately $10.1 billion, as well as 192 BTC ($22.1 million), and has a $175 million stake in WLD reserve company Eightco, along with $345 million in unsecured cash. According to The Block's pricing page, the current circulating supply of Ethereum is approximately 120.7 million ETH. According to SER data, BitMine is currently the largest Ethereum reserve holder, followed by Joe Lubin's SharpLink and The Ether Machine, which hold approximately 838,150 ETH and 495,360 ETH, respectively. BitMine is also the second largest publicly traded cryptocurrency reserve company after Michael Saylor's Strategy, which holds 639,835 BTC ($7.21 billion), accounting for over 3% of Bitcoin's total supply of 21 million.

With the support of institutional investors including Ark Invest's Cathie Wood, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital, BitMine aims to acquire 5% of the circulating supply of ETH, which currently amounts to approximately 6.04 million ETH. Lee stated in a statement: "As we move towards our 'alchemy' goal of 5% ETH supply, BitMine's ETH Holdings have now surpassed 2%. When BitMine's ETH Holdings were close to 1% at the beginning of August, BitMine's stock price was $38, and now that we have exceeded 2%, BitMine's stock price has surpassed $61. We still believe that Ethereum is one of the largest macro trades in the next 10-15 years."

BitMine raises $365 million in premium financing, plans to raise an additional $1.28 billion to expand ETH Holdings

On Monday, BitMine announced a $365.24 million registered direct offering to sell approximately 5.2 million shares at a price of $70 per share, a 14% premium over last Friday's closing price. The offering also includes warrants, which, if exercised, could add another $913 million in proceeds, bringing the total potential proceeds to approximately $1.28 billion. Lee stated, "This is a substantial value addition for existing shareholders, as the primary proceeds will be used to increase our ETH Holdings. In our view, this 14% premium not only reflects strong interest from institutional investors in the BitMine story but also confidence in our company's execution capabilities."

Conclusion

Despite the price correction of Ethereum triggering large-scale liquidations and causing market sentiment to become tense for a while, the continuous capital inflow into the BlackRock fund and the significant accumulation by BitMine Immersion strongly demonstrate that institutional investors are viewing every price drop as an important strategic accumulation opportunity. In particular, BitMine is willing to expand its ETH Holdings through equity financing at a premium, which not only highlights the leadership's strong confidence in Ethereum but also conveys a clear signal to the market: Ethereum is transitioning from a speculative asset to a strategic macro asset supported by strong institutional balance sheets. Therefore, although ETH's short-term price movements are still influenced by market sentiment and technical indicators, in the long run, this sustained capital inflow led by institutions provides a solid foundation for Ethereum's future growth, making the bullish forecast of it reaching $10,000 more credible.