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Tom Lee’s BitMine Adds $42 Million to its Ethereum Hoard

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Tom Lee's BitMine Adds $42 Million to its Ethereum Hoard

BitMine, the largest corporate holder of Ethereum, has capitalized on the digital asset’s recent price volatility to expand its treasury holdings.

On February 7, blockchain analysis platform Lookonchain reported the transaction, citing data from Arkham Intelligence. The firm acquired approximately 20,000 ETH for a total capital outlay of $41.98 million.

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BitMine Chair Defends Aggressive Buying Amid Crash

Notably, this latest tranche moves the firm significantly closer to its long-term objective of controlling 5% of Ethereum’s total circulating supply. Data from Strategic ETH Reserve shows it has achieved over 70% of that goal with its 4.29 million ETH holdings.

Meanwhile, BitMine’s latest ETH purchase comes at a moment of extreme market fragility.

Ethereum prices have collapsed roughly 31% over the past 30 days, trading around $2,117 as of press time. Over the past week, the asset traded for as low as $1,824, its lowest level since May 2025.

Still, BitMine remain committed to the crypto token, with the firm’s chairman Tom Lee arguing that “Ethereum is the future of finance.”

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Consequently, Lee has dismissed concerns regarding the firm’s deepening unrealized losses.

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In a recent statement, Lee argued that the current volatility is “a feature, not a bug.” According to him, Ethereum has weathered drawdowns of 60% or worse on seven occasions since 2018.

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So, despite the “Crypto Winter” optics exacerbated by the nomination of Kevin Warsh to the Federal Reserve and geopolitical tensions following the Greenland incident, the Ethereum network’s fundamental usage remains robust.

Moreover, BitMine has been evolving beyond a simple “buy-and-hold” treasury strategy.

To outperform the cycle and mitigate the drag of falling spot prices, the company is pivoting toward what it describes as “accretive acquisitions” and high-risk capital deployment.

This includes publicized “moonshot” allocations into smaller-cap tokens like Orbs and investments in media outlets like Mr Beast.

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Additionally, BitMine continues to leverage its massive stack for yield, staking nearly 3 million ETH.

These efforts are designed to offset the heavy pressure of a macro environment that has turned sharply risk-off.

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Crypto World

Is the $71K Pump a Bull Trap? Why Analysts Are Calling for a $50K Bitcoin Crash

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Is the $71K Pump a Bull Trap? Why Analysts Are Calling for a $50K Bitcoin Crash


Can BTC collapse to $45,000 in the next 10 days?

The primary cryptocurrency is back in green territory, rising well above $71,000 following Donald Trump’s latest remarks that the war in Iran might be coming to an end.

Nonetheless, this could represent a classic “dead-cat bounce” since numerous analysts believe the bear market is far from being over.

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‘The Flush is Approaching’

Despite climbing 7% over the past week and reclaiming the $70,000 level, BTC is down 45% from its all-time high of approximately $126,000 recorded in October 2025, a clear indication that the asset remains in a broader bear market.

Many industry participants think the bottom is yet to be formed. X user bee, for instance, described the latest resurgence as “just a liquidity grab before the next dump,” envisioning a drop to $50,000 in the second quarter of the year.

Leshka.eth and Mr. Crypto Whale also made bearish predictions. The former reminded that every single bear market in history has seen at least a 78% drawdown from the top, claiming “the flush is approaching.”

Mr. Crypto Whale argued that BTC might be entering its final accumulation stage. Based on their chart projection, the price could nosedive to $45,000 in the next 10 days before reversing course.

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“If that scenario plays out, volatility will spike, and weak hands will get shaken out. Make sure you’re prepared for both directions. The biggest opportunities often appear when the market creates maximum fear,” they added.

The renowned analyst Ali Martinez gave his two cents, too. He compared BTC’s downtrend to that in 2022, speculating that the valuation could crash below $32,000 during this cycle.

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BTC Will ‘Shock Everyone?’

Of course, there are those suggesting that the asset could be gearing up for a price explosion rather than a renewed pullback. X user Crypto Fergani thinks that BTC will “shock everyone” this cycle, envisioning a rise to a new all-time high. According to the analyst, some factors that could fuel the pump include the “dying” fiat, “unpayable” debt, mass money printing, and the involvement of major institutions such as BlackRock.

“It’s only a matter of time before crypto does what it always does next. Crypto doesn’t need your belief to take over,” they claimed.

Merlijn The Trader and Michael van de Poppe also chipped in. The former argued that quantitative tightening had just ended, noting that the last time the Fed made such a pivot, BTC rallied by over 2,000%. It is worth saying that the official QT ending was widely determined to be the start of December, 2025.

Michael van de Poppe believes the recent surge could be followed by a further jump to $75,000, then a potential spike to $80,000 sometime this month.

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Vitalik Buterin pushes ‘DVT-Lite’ to make validator setup easier

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Vitalik Buterin pushes ‘DVT-Lite’ to make validator setup easier

The Ethereum Foundation is testing a method for running validators that could make it significantly easier for institutions holding large amounts of ether to set up staking infrastructure, widening the pool of participants and creating a more decentralized network.

In a post on X, blockchain co-founder Vitalik Buterin said the foundation is using a simplified version of distributed validator technology, or “DVT-lite,” to stake 72,000 ETH. The experiment aims to make running validators across multiple machines less complicated.

Buterin said the goal is to reduce the process to something close to a one-click setup, where operators choose which computers will run validator nodes, launch the software and enter the same key on each machine. The system would then automatically connect the nodes and begin staking.

“My hope for this project is that we can make it maximally easy and one-click to do distributed staking for institutions,” Buterin wrote.

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Running Ethereum validators today typically means operating a single node that holds the key used to sign blocks and participate in the network. If that machine fails or goes offline, the validator can stop working and may be penalized.

Distributed validator technology (DVT) changes that by allowing multiple independent machines to collectively act as a single validator. Instead of relying on one key and one computer, several nodes work together and only a handful of them sign for the validator to function. That means the validator can keep operating even if some machines go down.

But existing DVT systems can be complicated to deploy because operators must coordinate networking, keys and communication between nodes. Buterin has previously argued that complexity is one reason large staking providers have come to dominate the ecosystem.

The “DVT-lite” setup aims to automate much of that process, making it easier for institutions to run distributed validators with minimal infrastructure expertise.

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Buterin said he plans to use the system himself and hopes large ETH holders will adopt similar setups, helping spread control of Ethereum’s staking infrastructure across more operators rather than concentrating it among a handful of professional providers.

“The idea that ‘running infrastructure’ is this scary, complicated thing where each person participating must be a ‘professional’ is awful and anti-decentralization, and we must attack it directly,” he wrote.

Read more: Vitalik Buterin proposes simpler ‘distributed validator’ staking for Ethereum

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Record-high Bitcoin Orderbook Asks Warn Of Price Correction

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Bitcoin Price, Markets, Cryptocurrency Exchange, Derivatives, Financial Derivatives, Bitcoin Futures, Price Analysis, Market Analysis

Bitcoin (BTC) appears to have reclaimed $70,000 as support, although the market remains cautious as technical charts indicate a setup resembling the bull trap that occurred in January 2026.

Bitcoin’s sell-side liquidity has expanded sharply during the latest range retest. According to crypto trader Ardi, Bitcoin ask orders reached a two-month high. The trader said,

“Asks on Bitcoin just hit a 2-month high. $1.57B in sell-side liquidity stacked above price vs $1.125B in bids below.”

Bitcoin Price, Markets, Cryptocurrency Exchange, Derivatives, Financial Derivatives, Bitcoin Futures, Price Analysis, Market Analysis
Bitcoin orderbook analysis by Ardi. Source: X

Within a 5% band around the spot price, the sell orders exceed demand by roughly 40%, creating a heavier supply layer above the market price. At the same time, the bids form a thinner support cushion below BTC price.

Ardi noted the last comparable setup occurred in January after Bitcoin briefly broke above $98,000. A similar sequence followed Bitcoin’s recent move above $72,000 before the price slipped back toward the middle of its range. Elevated ask liquidity during a retest often signals that traders are using rebounds to take profit.

Another positioning metric also turned in the same direction. The 30-day moving average of Bitcoin’s net taker volume remained positive at $83 million in March, indicating increased buying activity through market orders.

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Bitcoin Price, Markets, Cryptocurrency Exchange, Derivatives, Financial Derivatives, Bitcoin Futures, Price Analysis, Market Analysis
Bitcoin net-taker volume. Source: CryptoQuant

Related: Bitcoin price analysis warns of potential dip after $72K liquidity sweep

Will BTC’s underwater supply cap its rebound?

Bitcoin short-term holders’ (STHs) cost-basis data shows the average holder entered the market at significantly higher prices. The STH realized price, which tracks the average acquisition price of coins held for under six months, sits near $88,900.

According to Bitcoin researcher Axel Adler Jr., the largest supply cluster lies between $86,000 and $99,000, where many coins were accumulated between November 2025 and February 2026. This range forms the main breakeven area for a large share of the short-term market, making it a key market inflection zone.

On the positive side, realized profit and loss data shows selling pressure has begun to reduce. Crypto analyst Darkfost noted about $611 million in realized losses against $346 million in profit last week, bringing net weekly profit-and-loss to -$264 million.

That figure is far lower than the $2 billion weekly loss recorded during the February drop below $60,000.

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Bitcoin Price, Markets, Cryptocurrency Exchange, Derivatives, Financial Derivatives, Bitcoin Futures, Price Analysis, Market Analysis
Bitcoin realized loss 7-day average. Source: CryptoQuant

Compared with January’s retest, Bitcoin price currently sits much further below the main short-term cost-basis cluster. That distance limits the amount of breakeven selling that typically appears during smaller rallies.

As a result, many short-term holders may prefer to wait for higher prices, potentially closer to $86,000, rather than selling at a loss after holding through a month-long consolidation.

A move back above the $70,000 to $72,000 range eases part of the near-term selling pressure, but a more meaningful shift may require Bitcoin to reclaim the $86,000 to $89,000 range, where most of the short-term holders reach breakeven.

Related: Strategy records biggest STRC issuance day with estimated 1,420 BTC buy