- Ethereum price shows a bullish breakout from the $2,142 resistance level, indicating a bullish breakout from a long-term consolidation.
- Bitmine Immersion Technologies acquires 60,999 companies $ETH within a week.
- U.S.-based spot ETFs recorded total inflows of $19.7 million on Monday, according to Pharcyde Investors.
$ETHthe native cryptocurrency of the Layer 1 blockchain Ethereum, rose 7.5% on Monday to trade at $2,343. Bullish momentum is spreading across the crypto market after US President Donald Trump said that Iran “wants a deal” to end the ongoing military conflict between the US and Israel. While he insists he is not ready for a deal yet, the market reacted positively as digital assets were raised with renewed momentum. Ethereum price gained further momentum following continued accumulation by corporates, new ETF inflows, and short-term liquidations.
$ETH Outperforms S&P 500 as corporate demand surges
In an eight-day rally, Ethereum price soared from its current trading price of $1,810 to $2,351, marking a 21.5% increase. As a result, the asset market capitalization soared to $284.1 billion.
The ongoing conflicts in the Middle East are having a significant impact on reconstruction forces, but $ETHthe underlying buying pressure is increasing against the backdrop of corporate adoption.
Bitmine Immersion Technologies, chaired by Thomas “Tom” Lee, reported purchasing 60,999 Ether ($ETH) in the past week. This number is higher than the company’s average weekly acquisition of 45,000 to 50,000. $ETH In previous periods. The move comes as geopolitical tensions in the Middle East, including the Iran conflict, are impacting market trends.
“Cryptocurrency prices have outperformed since the start of the Iran war, with Ethereum outperforming the S&P 500 by 2,450 basis points. This is a meaningful outperformance in just two weeks,” said Bitmine Chairman Thomas “Tom” Lee.
In a separate transaction, Bitmine bought 5,000 $ETH Approximately $10.2 million worth of over-the-counter transactions were made directly from the Ethereum Foundation. This arrangement allowed the Foundation to raise funds for continued development work without having to sell its holdings on public exchanges. Bitmine said the acquisition is a way to support the foundation’s goals.
Extensive data from market researcher Leon Wideman shows that companies holding government bonds on Ethereum currently control more than $7.27 million. $ETHwhich is equivalent to approximately $15.1 billion. This accounts for approximately 6% of the total $ETH Given the ongoing accumulation trend, 67 such entities have been supplied and their holdings are only increasing.
Such large-scale accumulation by whale and corporate companies often signals strong underlying demand for Ethereum, increasing the likelihood of an Ethereum recovery.
Ethereum price analysis suggests veteran trade could recover
In a recent X post, veteran trader Peter Brandt shared Ethereum price analysis on monthly and daily charts.
The higher time frame chart shows a long-term consolidated trend within two converging trendlines, suggesting a triangle-like chart pattern. Chart setups are classic continuation patterns, seen during established trends and often push prices higher to replenish prevailing momentum.
Amid geopolitical tensions in the Middle East, the coin witnessed over a month-long consolidation on the trend line below the triangle pattern. The daily chart highlights the ongoing price recovery that has broken out of the pattern’s resistance trend line at $2,142.
$ETH/USDT -1 day chart
If history repeats itself, this rally could start a new recovery cycle along with a long-term maintenance trend on the monthly chart.
