Ethereum Price Forecast: BitMine holdings reach 4.66 million ETH, Lee reiterates crypto winter end

Ethereum price today: $2,150

• BitMine lifted its holdings to 4.66 million ETH last week.
• BitMine Chairman Thomas Lee said the crypto winter may be nearing its end, citing ETH’s outperformance despite the Iran war and progress on the CLARITY Act.
• ETH faces resistance at the 50-day EMA amid recovery attempts.

Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) has continued its weekly accumulation of the top altcoin.

The firm acquired 65,341 ETH last week, pushing its total holdings to 4.66 million ETH. The move marked its largest purchase since December despite tensions from the ongoing Middle East crisis.

"BitMine has maintained the increased pace of ETH buys in each of the past three weeks, as our base case is [that] ETH is in the final stages of the 'mini-crypto winter,'" said BitMine Chairman Thomas Lee in a Monday statement. Lee previously predicted that March would be positive for ETH and the crypto market.

The BitMine Chairman also explained that crypto has proven to be an outlier amid the Iran war, outperforming equities and Gold. "Crypto is demonstrating itself to be a good 'war time' store of value," Lee added.

He added that a potential passage of the CLARITY Act could help amplify this relative strength for Ethereum and the crypto market.

"The CLARITY Act continues to make progress in Congress and is expected to be signed into law before the end of April. This is a positive fundamental catalyst for Ethereum. And another reason probabilities favor the crypto winter as being largely behind us," noted Lee.

Meanwhile, BitMine also resumed staking ETH after a brief pause in February, expanding the amount it holds in staking contracts to 3.14 million ETH last week. That figure represents 67% of its entire ETH stash.

BitMine also reported holdings of 196 Bitcoin (BTC), a $200 million stake in Beast Industries, a $95 million stake in Worldcoin treasury Eightco Holdings (ORBS) and a cash balance of $1.1 billion.

Ethereum Price Forecast: ETH faces 50-day EMA resistance

Ethereum has recorded $216.8 million in liquidations over the past 24 hours, driven by $131.1 million in liquidated long positions, per Coinglass data.

In the daily chart, ETH trades at $2,164. The near-term bias turns mildly bullish as price holds above the 20-day Exponential Moving Average (EMA) near $2,115, signaling buyers defending short-term trend support despite ETH trading below the 50-day and 100-day EMAs that cap the broader recovery.

Momentum confirms an improving tone, with the Relative Strength Index (RSI) rising back above 50 and the Stochastic Oscillator (Stoch) rebounding from mid-range levels after cooling from overbought territory. The move indicates renewed but moderate upside pressure rather than exhaustion.

Immediate resistance lies at the 50-day EMA, then at $2,388, where a break would open the way to the next upside barrier at $2,746. On the downside, initial support aligns around the 20-day EMA and nearby horizontal level at $2,108, with a daily close below exposing the deeper support band at $1,741, followed by $1,524.

As long as ETH holds above $2,108, dips are inclined to attract buying interest within this emerging bullish phase.

(The technical analysis of this story was written with the help of an AI tool.)