Ethereum price prediction as BitMine buys the dip even as ETFs shed $582M

• BitMine buys $140M in $ETH, boosting its treasury to nearly 4M $ETH.
• US Bitcoin and Ethereum ETFs saw $582M in combined outflows.
• Ethereum trades near $2,950, capped by EMAs, with support at $2,900.

Ethereum price forecast remains cautiously optimistic as the cryptocurrency struggles to maintain momentum, trading near $2,950 after slipping roughly 12% over the past week.

While Ether has avoided a decisive breakdown, the broader market, including Bitcoin (BTC), shows signs of fatigue amid waning participation and cautious trading behaviour.

BitMine adds $140M $ETH in the dip

As the price of Ethereum ($ETH) fell below $3,000, Tom Lee’s Ethereum treasury firm, BitMine, reportedly acquired an additional $140 million worth of $ETH on Monday, bringing its total holdings to nearly 3.97 million $ETH, valued at approximately $11.6 billion.

This acquisition aligns with BitMine’s long-term goal of securing 5% of the circulating Ethereum supply, signalling strong confidence in the asset despite current market weakness.

The firm’s aggressive accumulation strategy has continued throughout the year, with notable purchases of over 240,000 $ETH in early December alone.

Following the $ETH purchase, BitMine stock closed higher on Tuesday, reflecting investor optimism around its treasury strategy.

ETF outflows signal macro-driven caution

While BitMine strengthens its Ethereum holdings, institutional investors appear to be trimming risk elsewhere.

US-listed Bitcoin ETFs and Ethereum ETFs experienced combined outflows of roughly $582 million on Monday, marking the largest daily redemptions in two weeks.

Bitcoin ETFs alone saw $357.6 million in net outflows, while Ethereum ETFs reported nearly $225 million.

Analysts suggest these withdrawals reflect macro-level de-risking tied to volatility in US equities and uncertainty over Federal Reserve policy rather than crypto-specific stress.

But despite these ETF flows, the structural foundation for Ethereum and Bitcoin remains robust, with long-term holders continuing to support the market, although short-term volatility has heightened as traders adjust exposure based on risk assets outside the crypto space.

Ethereum price prediction

BitMine’s purchases demonstrate corporate conviction in Ethereum’s long-term prospects, even as Ethereum ETFs show temporary withdrawals.

The juxtaposition of aggressive treasury accumulation and institutional caution underscores the mixed signals that traders must navigate.

From a technical standpoint, Ethereum ($ETH) is currently trading in a late-stage corrective phase, with resistance defined by declining exponential moving averages (EMAs).

Price remains below the 20-day EMA near $3,075 and the 50-day EMA around $3,250, limiting the potential for a sustained rebound.

Spot outflows persist, totalling roughly $18.7 million, while open interest has declined to approximately $37 billion as leverage unwinds.

However, technical indicators, including the daily RSI, suggest weakening downside momentum but have yet to signal a bullish reversal.

The immediate support is found around $2,900 to $2,880 and a decisive break below this range could open the path to $2,700–$2,750, where deeper buying may emerge.

On the upside, reclaiming and holding above $3,075 would indicate diminishing selling pressure, while a move toward $3,250 would require a meaningful shift in volume and spot flows.