ETH’s bearish chart setup points to a 25% drop toward $1,600, risking over $10 billion in paper losses for BitMine in the coming weeks.
Tom Lee’s BitMine faces about $7.3 billion in paper losses on its Ethereum treasury as Ether (ETH) traders weigh worsening sentiment, ETF outflows and a bearish chart setup pointing toward $1,600.
Key takeaways:
Bitmine’s ETH treasury dashboard. Source: DropStab.COM
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