BitMine’s ETH Frenzy: Tom Lee’s Wild Ride or Just Another Crypto Circus? 🎪

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Behold, BitMine Immersion Technologies-those madcap hoarders of Ethereum (ETH)-have flung themselves headfirst into yet another buying spree! 🎭

While lesser mortals tremble at the sight of ETH’s woes, BitMine scoffs at fear like a nobleman dismissing a peasant’s plea. Exchange inflows surge? ETF outflows flee? Bah! Mere trifles!

138,452 ETH in a Week? BitMine Scarfing Up Supply Like a Starving Actor at a Banquet 🍗

Lo! The latest spectacle reveals BitMine has seized another 138,452 ETH-enough to make even King Midas blush. Their vaults now bulge with 3.86 million ETH, a staggering 3.2% of all circulating coins. Two-thirds toward their grand ambition: to own 5% of ETH’s very existence! Such ambition! Such hubris! Such… questionable accounting?

Since pledging allegiance to ETH as their “reserve asset” (a term as flexible as a court jester’s morals), BitMine has snatched 2.83 million ETH between June and October-then, like a glutton at a feast, piled on another 1.03 million since. One wonders: do they even know when to stop? 🤔

Tom Lee(@fundstrat)’s #Bitmine bought another 138,452 $ETH($434.74M) last week and currently holds 3,864,951 $ETH($12.13B).

– Lookonchain (@lookonchain) December 8, 2025

ETH’s price, that fickle mistress, has tumbled 24.8% since October-yet BitMine buys on! December’s feeble 4% uptick? Enough to send them into a shopping frenzy worthy of Versailles. Chairman Tom Lee, ever the optimist, declares this madness is strategic. The Fusaka upgrade! The Fed’s whims! Forward fundamentals! (Whatever those are.)

“We are now more than 8 weeks past the October 10th liquidation shock event, a sufficient length of time to allow crypto to again trade on forward fundamentals,” Lee added-words as reassuring as a doctor prescribing leeches. 🩹

Meanwhile, the Market Whispers: “Fools Rush In” 🎻

Ah, but the jest grows richer! CryptoOnchain spies 162,084 ETH flooding Binance-the largest single-day deluge since May 2023. Translation? Someone’s preparing to sell. And when the whales sneeze, the minnows catch cold. 🤧

“Given the magnitude of this inflow, market participants should remain cautious. A supply shock of this size, if executed as market orders, could lead to heightened volatility or a short-term price correction,” the analyst stated-or, in layman’s terms: Brace yourselves.

ETH ETFs? Bleeding $1.4 billion in November, another $65.59 million in December. Milk Road’s sage advice?

“Historically, ETF flow reversals tell you more about liquidity pressure than about long term fundamentals. When redemptions spike, it’s usually a sign that broader risk sentiment is cracking, not that the asset itself broke. If ETF outflows continue, near term price action stays choppy as liquidity gets drained at the edges.”

Thus, the grand farce unfolds: BitMine buys while others flee. Retail trembles, institutions retreat, and Tom Lee? He grins, adjusts his cravat, and orders another round. 🍷

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2025-12-09 11:38