Ethereum is under selling pressure once again, testing a critical support level as the broader crypto market continues to struggle for bullish momentum. Altcoins are losing strength across the board, and growing concern among traders has fueled renewed talk of a potential bear market. The recent downturn has pushed Ethereum closer to its key technical levels, with investors closely watching whether it can maintain support or if another leg down is imminent.

However, not everyone is bearish. On-chain data from Lookonchain reveals that Bitmine, one of the largest Ethereum holders, just made a massive purchase — acquiring 63,539 ETH worth approximately $251.6 million. Large, timely purchases during drawdowns don’t guarantee a reversal, but they often reveal where deep-pocketed participants t

See Full Page