TLDR
- BitMine Immersion Technologies raised its ETH holdings to 4.66 million ETH after buying 65,341 tokens last week.
- Chairman Thomas Lee says ETH is in the “final stages” of a mini-crypto winter, pointing to the CLARITY Act as a catalyst.
- Net taker volume on Binance spiked to $390 million, the highest level recorded, signaling aggressive buyer activity.
- ETH is trading near $2,162, up nearly 5% in 24 hours, holding above key moving averages.
- Ethereum has reached its highest volume node in five years, historically acting as a strong price support level.
Ethereum (ETH) is showing signs of renewed momentum as a major institutional buyer keeps piling in and market data points to strong demand.
BitMine Immersion Technologies (BMNR), an Ethereum treasury firm, bought 65,341 ETH last week. That pushed its total holdings to 4.66 million ETH. It was the firm’s largest single-week purchase since December.
Thomas Lee, chairman of BitMine, said the firm has kept up an increased pace of buying for three straight weeks. He believes ETH is in the “final stages” of what he calls a mini-crypto winter.
Lee also pointed out that crypto has held up well during the ongoing Middle East conflict. “Crypto is demonstrating itself to be a good ‘war time’ store of value,” he said.
Lee cited the CLARITY Act as another reason for optimism. The bill, which aims to clarify crypto regulation in the US, is expected to be signed into law before the end of April. Lee called it “a positive fundamental catalyst for Ethereum.”
BitMine also resumed staking ETH after a brief pause in February. It now holds 3.14 million ETH in staking contracts — about 67% of its total holdings. The firm also holds 196 BTC and a $1.1 billion cash balance.
Aggressive Buyers Push Net Taker Volume to Record High
On the market side, CryptoQuant analyst Amr Taha flagged a massive spike in Ethereum’s net taker volume on Binance. The figure hit $390 million, topping the previous high of $330 million set on March 18.
Net taker volume measures the difference between market buys and market sells. A positive number means buyers are actively taking positions.
Taha linked the spike in buying to improved market sentiment following a post by President Donald Trump on Truth Social, which appeared to ease war-related concerns. That shift in tone helped boost appetite for risk assets including crypto.
ETH is trading near $2,162 at the time of writing, up nearly 5% in the past 24 hours, according to CoinMarketCap.
From a technical standpoint, Ethereum $ETH appears to trade within a well-defined ascending triangle on the weekly chart.
The recent move toward $1,800 served as a critical reaction point, aligning with the rising trendline of this multi-year structure. https://t.co/BDiUtePU9k pic.twitter.com/lFd95BFBs0
— Ali Charts (@alicharts) March 22, 2026
Analyst Ali Charts posted on X: “From a technical standpoint, Ethereum $ETH appears to trade within a well-defined ascending triangle on the weekly chart. The recent move toward $1,800 served as a critical reaction point, aligning with the rising trendline of this multi-year structure.”
Technical Indicators Point to Short-Term Strength
Analysts at Bitcoinsensus noted that ETH has reached its highest volume node in the past five years. High-volume nodes often act as price floors during consolidation.
ETH Monthly Highest Volume Node Hold 📊
ETH is holding the highest volume node from the past five years, a level that often reflects strong price acceptance and heavy historical participation.#Ethereum #ETH #crypto pic.twitter.com/OaeTjwZtK7
— Bitcoinsensus (@Bitcoinsensus) March 23, 2026
The RSI is sitting near 56, showing moderate bullish momentum without being overbought. The MACD has also turned upward with a green histogram, confirming early recovery signs.
ETH is holding above both the 50-day and 200-day EMAs, which are in the $2,130–$2,136 range. Immediate resistance sits at $2,388, with support around $2,108.
