- ETH regained the 23.6% Fib level after the 18% decline, extending its rally to four weeks.
- Bitmine bought 101,627 ETH during the week, raising the stock to 4,976,485 ETH for about $11.45B.
- Bitmine now has 4.12% of ETH and is close to 247,000 ETH from 5%.
Ethereum also entered a fourth straight week, turning a previous technical retreat into a retracement. The move followed resistance near the 23.6% Fibonacci retracement level around $2,228, which triggered an 18% drop to around $1,937.
This decline, however, later became the starting point for the latest uptrend, as the weekly price levels retook the same Fibonacci level. At press time, ETH was trading near $2,320, up more than 2% in 24 hours, up more than 7% for the month, and about 48% for the year.
ETH Retraces Key Fib Level as 4-Week Retracement Gains Strength
The weekly setup now shows Ethereum returning above the 23.6% Fibonacci level that previously cut the price of the token. The recovery is important as the same area was identified before when the original slide started.
The rising support system is also below the market, helping to explain the current trend. As long as the price of the altcoin remains above the bottom of the diagonal, the recent four-week recovery remains unchanged. The next stop is near the 200-week moving average at $2,450.
1-week price chart of ETH (Source: TradingView)
This puts a big marker above the current market after the recent rally. Even with the rebound, the bigger picture is not fully established. Ethereum is still working below the 50-week moving average of $3,086, indicating that long-term pressure remains.
Bitmine Logs Strongest Weekly and ETH Buy Since December 2025
Near the market rebound, Bitmine reported buying 101,627 ETH within the last week. The company explained that the momentum is the strongest of the weekly purchases since the week of December 15, 2025. The purchase raised Bitmine’s total Ethereum to 4,976,485 ETH.
Bitmine Adds 101,627 ETH in Biggest Weekly Accumulation in 4 Months
Bitmine Immersion Technologies added 101,627 ETH last week, marking its fastest pace since the week of December 15, 2025. As of April 19, 2026, the company has a total of 4,976,485 ETH,… pic.twitter.com/j6EGixRZTK
– Wu Blockchain (@WuBlockchain) April 20, 2026
Using a price of $2,301 per coin, the company valued the position at approximately $11.45 billion. The products now make up 4.12% of the products in circulation, which stands at 120.7 million tokens. In the beginning, Bitmine has stated that it wants to reach 5% of the total supply through its “Alchemy of 5%” system.
Based on the figures it released, the company remains about 247,000 dollars short of that. The new purchases, therefore, narrowed the gap while pushing Bitmine closer to the target.
Bitmine’s $12.9B Asset Base Shows Scale Behind Its ETH Bet
As of press time, Bitmine reported holding 199 Bitcoin. It recorded $200 million in Beast Industries and $107 million in Eightco Holdings. The company said its revenue was $1.12 billion.
Combined with cryptoholds and strategic stakes, the stock brought the total amount disclosed to $12.9 billion. Tom Lee, the chairman of Bitmine, said that the latest purchase is in line with the company’s view of the crypto cycle. He added that Ethereum is up 41% since the end of February.
Lee added that Ethereum it has beaten the S&P 500 by 2,280 points since the start of the US-Iran war. Together, the chart and Treasury numbers show a rise in inflation and a boost in corporate volume for the same week.
Also Read: Crypto Token Unlocks Value Over $330M Set To Market
