ARK Doubles Down While ETH Faces Critical Zone

ARK Invest buys BitMine stocks as Ethereum probes $3,000. ETH enters a no-support zone with critical technical levels coming in December 2024.

Ark Invest, led by Cathie Wood, took big steps on December 15. The company acquired 550,404 BitMine shares. BitMine has the biggest Ethereum treasury in the world. ARK also acquired 43,553 shares of its Bitcoin ETF.

ARK has aggressive conviction, according to CryptosR_Us on X. The company estimates that Bitcoin may reach $2.4 million in 2030. Base case targets $1.2 million. Even bear scenarios project on $500,000.

Source:CryptosR_Us 

Ether is under pressure just below the major support. The asset is currently trading at approximately 3,100. This is a pivotal point of the network.

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Price Action Signals Growing Concern

Technical indicators present worrying trends among Ethereum holders. ETH went into a no-support zone as TedPillows tweeted on X. The analyst highlighted a two-way outcome in the future. Either Ethereum recovers the 3000 or sells under 2800.

Source: TedPillows 

Recent statistics indicate that Ethereum fell by 6.63 percent in December. The asset opened the month at $3,598. The current figures reflect a big decline compared to November when it made a 35 percent gain.

BitMine chairman Tom Lee is a long-term bull despite volatility. His company has just appended 102,259 ETH. Cumulative assets amounted to 3.97 million tokens. This is 3.2 percent of total Ethereum supply.

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Institutional Appetite Remains Strong

The continued interest by ARK in purchasing BitMine is an indication of institutional interest. Lee has a strategic vision for running the treasury company. BitMine aims to obtain a 5 percent stake in Ethereum.

The company has a total asset of about 13.3 billion. This comprises 12.2 billion in Ethereum. Cash reserves are equal to $1billion. The company is also a holder of 193 Bitcoin.

Critical support levels are monitored by market participants. Analysts highlight the importance of $3,116 and $3,105. A decrease below would be a catalyst to expedited selling pressure.

Strong resistance is at $3.135 and $3.155. These levels discouraged additional gains in the recent past. The breakout above would change the momentum to the bullish side.

BitMine is accumulating even without the realization of losses. The firm is underwater by about 3 billion dollars. Lee is still optimistic about Ethereum.

The Made in America Validator Network begins in early 2026. This infrastructure would bring about 400 million dollars per year. Rewards are usually 3-4% per year.

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Market Structure Tests Resolve

The trading volume reflects long-term involvement in exchanges. Ether has a market value of more than 370 billion. The asset is also the second biggest cryptocurrency in the world.

The adoption of Layer-2 is on a roll even in the face of price weakness. There are consistent patterns of network usage. ETF vehicles within the institutions increase exposure.

The latest upgrades have made it more scalable and secure. The Fusaka upgrade was implemented on December 3. Technical advances aim at efficiency gains of transactions.

The strategic positioning of ARK is an indication of long-term conviction. The company had earlier worked together with Ethereum ETF filings. That alliance was terminated when ARK took other directions.

Market observers widely vary in terms of price predictions. By the end of 2025, conservative estimates will be up to $4,500-4,800. Hypothetical situations are much more optimistic.

The majority of consolidation now may dictate the next big step. A breach of the 3,000 support will lead to additional downside. Recapturing this level could trigger new purchases.

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The post ARK Doubles Down While ETH Faces Critical Zone appeared first on Live Bitcoin News.