BITMINE BUY $136M. THE FED CAN'T STOP EVERYTHING.
The hawkish shock from Warsh yesterday hit $ETH along with the rest of the market: it's trading today at $1,762, although it's holding up better than in previous cycles. What the price doesn't show: BitMine, the corporate treasury firm, just scooped up $136M in ETH funded by a $274M preferred stock offering. On the same day, whale wallets accumulated over 32,000 ETH in just two days. And Glamsterdam — the biggest upgrade for Ethereum since the Merge — entered its final testing phase on private devnets yesterday, with a public testnet aimed for June-July.
ETF data tells the whole story: ETH spot products are racking up $12,050M in net inflows. The week post-Pectra (May 2025) saw $200M in weekly inflows. If Glamsterdam delivers bug-free — with -78.6% gas, 10,000 TPS, ePBS — the same institutional money that bought into Pectra will return. Standard Chartered projects $ETH between $5,000 and $7,500 by the end of 2026 in the base scenario.
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💣 BOMBSHELL DATA:
Glamsterdam isn't just about speed. The ePBS (Enshrined Proposer-Builder Separation) is taking on-chain block construction to the next level, eliminating the reliance on external relayers, making ETH more censorship-resistant and fairer for validators. The Block-Level Access Lists enable parallel transaction processing — the biggest change in execution architecture since the Merge in 2022. Every major Ethereum upgrade has sparked a price rally in the weeks following deployment. The Pectra (May 2025) shot ETH up from $1,800 to $4,946 in just three months. Those who snagged the Pectra are now eyeing Glamsterdam.
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📊 PRICE: $1,762 · -2% 24h · recent low $1,550
⚡ GLAMSTERDAM: final devnets · -78.6% gas · 10,000 TPS · ePBS
🏦 BITMINE: $136M in ETH - corporate treasury · supply $274M
🐋 WHALES: +32,000 ETH accumulated in 2 days (CMC on-chain)
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🎯 KEY LEVELS:
🔴 Support: $1,650 — $1,550 (cycle low)
🟡 Resistance: $1,800 — $1,920
🟢 Glamsterdam clean testnet + Ormuz deflation: $1,920 → $2,116 → MA200 $2,421
⚠️ Fed hikes in September: $1,550 → retest $1,400
📌 IN SUMMARY:
1️⃣ BitMine buys $136M in ETH - corporate treasury becomes the second crypto asset
2️⃣ Glamsterdam in final testing — if the public testnet is clean, the pre-upgrade rally kicks in
3️⃣ $12,050M in net ETF inflows — institutional base holding strong despite the Fed's hawkish shock
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With $ETH at $1,762 and Glamsterdam in final testing — are you accumulating at this level or waiting for the public testnet to confirm the upgrade goes live bug-free? 👇
⚠️ This is not financial advice. DYOR.