Key factors:
Ether positive aspects almost 6% on the day as BitMine ups its ETH accumulation plans to almost $25 billion.
Chairman Tom Lee will get Michael Saylor comparisons as evaluation says ETH worth motion is “defying gravity.”
Bitcoin continues to vary beneath $120,000, shrugging off cool US CPI information.
Ether (ETH) neared $4,500 Tuesday as main company shopping for plans gave the most important altcoin one other main enhance.
Ether worth comes inside $500 of all-time highs
Knowledge from Cointelegraph Markets Pro and TradingView confirmed ETH/USD reaching $4,457 on Bitstamp — its highest since December 2021.
Now beneath $500 from all-time highs, the pair crushed resistance after blockchain know-how agency BitMine Immersion Applied sciences introduced plans to raise up to $20 billion for ETH purchases.
The transfer, which dietary supplements the agency’s present providing, permits for whole ETH holdings price $24.5 billion. The day prior, BitMine disclosed $4.96 billion in ETH.
A Tuesday filing with the US Securities and Trade Fee (SEC) confirms:
“With this Prospectus Complement, we’re growing the whole quantity of Widespread Inventory which may be offered beneath the Gross sales Settlement to as much as $24.5 billion, comprising of as much as $2.0 billion beneath the Prospectus, $2.5 billion beneath the Prior Prospectus Complement, and an extra $20.0 billion beneath this Prospectus Complement.”
BitMine inventory was up 5.6% on the day on the time of writing, with ETH/USD gaining an identical quantity.
Market members have been unsurprisingly bullish on the outlook for ETH worth power.
“$ETH has surged greater than 100% in lower than two months,” crypto dealer, analyst and entrepreneur Michaël van de Poppe famous in a post on X.
“This transfer is similar to the $BTC ETF launch, when Bitcoin continued to rally upwards. We’ll possible see a brand new ATH for $ETH after which some consolidation. There’s far more to return for this cycle.”
Crypto investor and entrepreneur Ted Pillows likened BitMine chairman Tom Lee to Technique CEO Michael Saylor, who oversaw the buildup of the most important Bitcoin (BTC) company treasury.
We lastly bought our $ETH Michael Saylor.
Bitmine needs to purchase $20,000,000,000 Ethereum.
Lets gooooooo 🔥 pic.twitter.com/5XHJdnyNqf
— Ted (@TedPillows) August 12, 2025
“$ETH is defying gravity,” Keith Alan, co-founder of crypto buying and selling platform Materials Indicators, continued.
Alan stated a possibility to purchase the dip on the 21-day easy transferring common (SMA), at present at $3,822, could be a “reward.”
Earlier, Cointelegraph reported that ETH worth targets now include $20,000 per coin.
Not all doom and gloom for Bitcoin
Bitcoin in the meantime continued to vary after a failed try to crack all-time highs the day prior.
Associated: Bitcoin gets $95K target as ‘ugly’ BTC price candle spoils breakout
Constructive macro information within the type of the US Client Value Index (CPI) failed to spice up momentum, with altcoins taking the highlight.
The July CPI print got here in 0.1% beneath expectations, lending weight to the Federal Reserve cutting interest rates at its subsequent assembly in September — a key crypto and risk-asset tailwind.
Commenting on market construction, nonetheless, widespread dealer and analyst Rekt Capital had purpose for optimism.
BTC/USD, he revealed, was nonetheless trying to type contemporary help after breaking by way of a multiweek downtrend.
“And if worth can proceed to take care of stability right here (maybe even within the type of a Bull Flag), worth may try one other revisit of the Vary Excessive above (blue),” he concluded alongside a print of the day by day chart.
This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a call.
