$ETH’s $2,500 Standoff: Bitmine Adds 12,535 as ETFs Shed Nearly $389M

U.S. spot Ethereum ETFs recorded nearly $389 million in cumulative net outflows over five trading sessions. Ethereum ($ETH) climbed 2.5% over 24 hours to just under $2,450, while the quoted market snapshot listed $ETH at $2,450.53 with a -2.20% 24-hour change. Reported trend figures showed $ETH down 2.0% over seven days, 6.0% over 14 days and 8.9% over 30 days.

Bitmine Immersion Technologies continued accumulating $ETH, adding 12,535 tokens last week. Its holdings reached 6.04 million $ETH, highlighting a growing divergence between corporate treasury demand and withdrawals from regulated investment products.

Ethereum trading activity remained substantial, with 24-hour volume closing at $13 billion and perpetual futures open interest at $44.6 billion. Open interest alone does not reveal whether traders are bullish or bearish.

The $2,500 level remained the psychological threshold to watch, while the $2,380 area represented the immediate downside reference because it was close to the reported 24-hour low. The figures showed corporate accumulation and regulated-product withdrawals moving in opposite directions.