Ethereum eyes $4k as whales, ETFs fuel year-end rally

BitMine's stock has shown a gradual increase in recent weeks, driven by a series of strategic acquisitions of Ethereum, including a notable purchase of 14,618 ETH valued at approximately $44 million. This uptick in stock price coincides with Ethereum's recovery above the $3,000 mark after a period of selling pressure.

Bitcoin's price has shown signs of recovery, reaching approximately $92,000, but significant investors, known as whales, are closing long positions, indicating a potential bearish sentiment despite the recent uptick. This trend raises concerns about the sustainability of the price increase and the overall market stability.

Superstate has launched Onchain Direct Issuance Programs for SEC-registered companies, enabling them to issue tokenized shares on the Solana and Ethereum blockchains. This initiative allows for stablecoin payments and instant issuance, marking a significant advancement in blockchain-based capital raising.

Bhutan has launched the TER token, a fully gold-backed digital currency on the Solana blockchain, as part of its strategy to enhance its digital economy through tokenized assets and pilot projects involving central bank digital currencies (CBDCs) and Ethereum-based digital identities.

Dogecoin (DOGE) has experienced a decline, falling below the $0.1450 mark against the US Dollar, and is currently consolidating losses with resistance noted around $0.1420. The price has dropped below key support levels, including a break of a bullish trend line, indicating bearish momentum in the market.

XRP price has recently declined below $2.10, struggling to maintain support around the $2.050 pivot level. The price has dropped to $1.993, indicating a bearish trend as it trades below key moving averages. A failure to recover above $2.00 could lead to further declines for the cryptocurrency.

Tom Lee has indicated that a rising ISM index could disrupt traditional cryptocurrency cycles, potentially paving the way for a new supercycle in Bitcoin and Ethereum markets. This perspective aligns with his ongoing analysis of market trends and economic indicators that influence cryptocurrency valuations.

Bitcoin and Ethereum are experiencing a tight trading environment, with Bitcoin (BTC) holding around $92,585 and Ethereum (ETH) testing the $3,500 mark. Despite a flat performance over the past 24 hours, Bitcoin's weekly trend shows a slight decline, while Ethereum has recently regained momentum after surpassing key resistance levels.