TLDR
- BitMine bought 27,801 ETH last week, bringing total holdings to 5.77 million ETH worth ~$10.25 billion
- US spot Ethereum ETFs recorded $84.42 million in net inflows, ending eight consecutive weeks of outflows
- ETH fell below $1,800 after fresh U.S.-Iran military strikes pushed oil above $74 and triggered risk-off selling
- Key support sits at $1,750; a break above $1,825–$1,850 could target $2,140 based on a daily chart double-bottom pattern
- $81.75 million in liquidations occurred in 24 hours, with $57 million coming from long positions
Ethereum is trading around $1,760 after slipping below $1,800 following renewed U.S.-Iran military escalation. Fresh American strikes on Iran pushed crude oil up roughly 4% to above $74 a barrel, sending investors away from risk assets including crypto.
Iran said it hit U.S. military sites in Bahrain, Kuwait, Oman, and Jordan in retaliation. Uncertainty around the Strait of Hormuz added more pressure on financial markets.
ETH dropped about 3.6% from its daily high of $1,837 during Monday’s session. Buyers are still defending the $1,750 level for now.
Institutional Buying Picks Up
BitMine Immersion Technologies (BMNR) added 27,801 ETH to its treasury last week. That lifts total holdings to 5.77 million ETH, valued at roughly $10.25 billion.
BitMine Buys 27,801 ETH, Holdings Reach 5.77M ETH
BitMine said it acquired 27,801 ETH over the past week, lifting total holdings to 5,770,038 ETH, or about 4.8% of Ethereum’s supply, and has staked 4,917,189 ETH. As of July 12, the company also held $482 million in cash and… pic.twitter.com/mPIsOLFZ9c
— Wu Blockchain (@WuBlockchain) July 13, 2026
BitMine Chairman Thomas Lee said annualized staking revenue is now projected at $242 million. The company has deployed 4.91 million ETH — about 85% of its holdings — into its Made in America Validator Network (MAVAN), generating a 7-day staking yield of 2.70% annualized.
The Las Vegas-based firm says it is now 96% of the way toward its goal of acquiring 5% of ETH’s circulating supply.
US spot Ethereum ETFs also posted $84.42 million in net inflows last week, according to SoSoValue data. That snapped an eight-week outflow streak.
What Analysts Are Watching
Crypto analyst Ali Martinez stated he would go long on ETH if it breaks $1,850. That level lines up with a major short liquidation cluster between $1,840 and $1,860 on CoinGlass data, where forced short covering could accelerate a move higher.
I’m going LONG on Ethereum $ETH if itbreaks $1,850. https://t.co/eDUNoRnGzw pic.twitter.com/FWoVgAmjOJ
— Ali Charts (@alicharts) July 13, 2026
Analyst Ted Pillows noted on July 13 that ETH holding above $1,750 is a good sign, adding that a rally toward $2,000 could follow if that level holds.
Crypto analyst Michaël van de Poppe (@CryptoMichNL) posted that despite overall market weakness, ETH “isn’t bothered” and is “showing a lot of strength” against Bitcoin. He pointed to momentum in the ETH/BTC pair and cited the approaching Clarity Act as a potential catalyst.
Despite the overall weakness, $ETH isn’t bothered.
It’s showing a lot of strength, as it continues to go up.
A lot of momentum in this one against #Bitcoin and I’m sure this will continue to last, given that the Clarity Act seems to be on the horizon. pic.twitter.com/ifVq8TRbLD
— Michaël van de Poppe (@CryptoMichNL) July 13, 2026
On the daily chart, a potential double-bottom pattern with lows near $1,505 remains intact. A confirmed break above $1,825 would project a target near $2,140.
ETH remains below its 50-day EMA at $1,798 and 100-day EMA at $1,946. The MACD stays above its signal line, and Chaikin Money Flow sits at around 0.10, in positive territory.
$81.75 million in total liquidations hit the market in 24 hours, with $57 million from long positions, per Coinglass.
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