Ethereum fell to $2,500 after a 5% weekly decline, putting a key support zone under pressure. Bitmine, which currently holds 6,016,414 ETH (approximately 4.9% of circulating supply), announced at TOKEN2049 in Singapore that it will stop buying after reaching 5% of supply, requiring approximately 100,000 more ETH. The firm purchased roughly $41 million worth of ETH the prior week. This announcement removes a significant source of recurring demand, especially as US spot ETH ETFs report six consecutive trading days of outflows. The critical support level to watch is the $2,500–$2,560 band.
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