Rich by Coin

The BMNR stock price has remained on edge in the past few months, even as major indices neared the all-time high. One major catalyst for the BMNR stock price is that many Wall Street giants are accumulating its shares, a sign they expect it to bounce back. Morgan Stanley holds over 12.1 million shares, while Cathie Wood’s ARK Invest holds over 9.4 million shares. Other top holders are companies like BlackRock, Goldman Sachs, Vanguard, and Bank of America.

The three-day timeframe chart shows that the BMNR stock remains in a bear market this month. It has dropped from a record high of $160 in June last year to the current $20. A closer look shows that it has formed a large falling wedge pattern, which is made up of two descending and converging trendlines. Oscillators also suggest that the stock is forming a bullish divergence, with the PPO showing a bullish crossover and the RSI rising from oversold levels.

Ethereum has solid fundamentals and always rebounds, with metrics such as transaction counts and active addresses at elevated levels. The total value locked in DeFi and real-world asset tokenization has jumped to a record high, and large holders like JPMorgan and Janus Henderson have embraced the technology. Ethereum’s staking queue has jumped to a record high, bringing the staking ratio to over 30%, signaling growing demand from long-term investors. BitMine has continued to accumulate ETH, now holding over 4.37 million tokens worth more than $8.5 billion, and this could support a rebound if Ethereum bounces back, as suggested by the inverted head-and-shoulders pattern on the weekly chart.