Is Ethereum preparing to break above $4,000 as BitMine targets 5% supply rights?

Ethereum price is trading around $3,00 each Ethereum Right now. A reasonable base case is a volatile range of roughly $2,400 to $3,600 over the next 6-12 months, with limited upside unless macro and ETF flows become decisively risk-on again.

Ethereum price further benefited from Tom Lee’s bet on Ethereum. Despite Ethereum trading below the psychologically crucial $3,000 level, Bitmine Technologies has quietly put another $500 million into staking. The move sharpens a question hanging over the market: Will this type of confident buying happen ahead of time? Ethereum Recover or simply deepen your exposure to drifting assets.

BitMine’s $5.7 Billion Ethereum Treasury

BitMine bet another $171,264 Ethereumthe total staked positions amounted to approximately 1.94 million Ethereum Equivalent to approximately $5.71 billion. Tom Lee’s company currently manages approximately $4 million in total. Ethereumor almost 3.5% of the circulating supply, with a goal to increase that share towards 5%. In a shareholder update in January, Lee told investors that the company is looking forward to future growth. Ethereum The Treasury aims to generate “more than $400 million annually in staking revenue,” effectively turning BitMine into a leveraged play on Ethereum’s yield curve.

Staking reaches “risk-free rate” status

The broader market is moving in the same direction, albeit less aggressively. Research firm Altcoin Vector points out that it is “30% of the total.” Ethereum It said this was a “historic milestone” that “fundamentally changes the narrative” as Ethereum “grows into the world’s most secure digital financial infrastructure.” In their view, “Ethereum By 2026, staking will effectively become the ‘risk-free interest rate’ of the digital economy. ” This represents how on-chain yields are starting to act like benchmark sovereign bonds in traditional markets.

Price pain, poor stock performance

BitMine’s stock is not yet commensurate with its size. BMNR is trading below $30, with crypto analyst Bryant describing the $27 to $30 range as a “good accumulation range” and claiming the stock is poised for a “monster move… $5,000 and then $7,000.” This word is more commonly used in altcoin Telegram chats than in Nasdaq filings. Resistance is easy. After being rejected around $3,350. Ethereum Analysts warn that failure to recover $3,050 will open room for $2,600, while a push above $3,250 and $3,650 will confirm new upward momentum.

Market perspective: “Sleeping Giant”

Despite the short-term weakness, some traders are viewing this as coiled energy rather than decay. Cryptocurrency analyst Marline the Trader calls Ethereum a “sleeping giant,” pointing to weekly compression, “rising lows,” and a “bullish reversal” in the MACD. Ethereum “Break the wedge, don’t grind it. Launch it.” This belief is reflected in BitMine’s balance sheet. Ethereum Lee behaves like a high-beta, high-yield tech index, effectively longing both the asset and the new on-chain “risk-free” curve.

24-hour movement of major coins

Short-term tapes remain choppy. Bitcoin is trading between approximately $89,000 and $90,000, with Bybit data showing a 24-hour range of approximately $88,558 to $90,212 on January 23, 2026. Ethereum has been trading around $2,950 to $2,965, with a 24-hour low of around $2,909.60 and a high just above that. $3,020. Solana has traded between about $127.10 and $130.30 during the same period, and is hovering around $128, down about 11% over the past week.