Bearish for Ethereum
ETH Bearish Breakdown Treasury Risk
Stable
Steady attention in Ethereum coverage, without a clear trend.
Updated 13 October 2026
The bearish argument: A bearish technical setup could push ETH towards the $1,600 zone, increasing BitMine's unrealized losses.
Keep up with the bigger picture
Personalized briefs are coming. Join the waitlist to follow this story and the other narratives shaping Ethereum coverage.
The argument and its evidence
Several outlets can carry the same argument; no single article is its origin. Read each one in its own context.
Recent coverage
Earlier coverage
-
CoinDesk · Published 3 Jun 2026
Tom Lee's Bitmine (BMNR) to offer preferred stock with 9.5% dividend, following Strategy's playbook
In coverage record: 4 Jun 2026
“That ETH bet is currently sitting at an estimated $9 billion unrealized loss as ETH prices fell below $1,800 from around $5,000 in October.”
Read article -
Crypto News · Published 3 Jun 2026
BitMine’s $300M stock move tests confidence in ETH treasury bet
In coverage record: 4 Jun 2026
“The same filing showed BitMine’s Ethereum position carrying an estimated $9 billion unrealized loss after ETH fell from about $ 5,000 to below $ 1,800 in October.”
Read article -
Crypto Breaking News · Published 1 Jun 2026
Early Ethereum investors diversify holdings, data shows
In coverage record: 2 Jun 2026
“Analysts warn the price could retest lower levels, with some pointing to a potential move toward $1,500 if downside momentum persists and key supports fail.”
Read article -
U.Today · Published 25 May 2026
Mow: 'I Feel Sorry for Ethereum'
In coverage record: 26 May 2026
“Tom Lee's firm, BitMine Immersion Technologies, is currently shouldering catastrophic paper losses. The firm's average acquisition cost sits around $3,850 per ETH. The firm is currently underwater to the tune of $8 billion in unrealized losses.”
Read article -
Crypto Breaking News · Published 24 May 2026
Tom Lee's ETH portfolio falls $7.35B as Ether outlook turns bearish
In coverage record: 25 May 2026
“A bearish technical setup — specifically a rising wedge pattern — points to a potential move toward $1,600 if ETH breaks support, which would expand BitMine’s unrealized losses beyond $10 billion based on current holdings and cost basis.”
Read article