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The Ethereum price dropped a fraction of a percentage in the past 24 hours, trading at $2,457 as of 3:32 a.m. EST, with trading volume surging 14% to $15.5 billion.
This slight decrease in the ETH price comes as BitMine Immersion Technologies successfully raised $250 million through a private placement aimed at establishing a corporate Ethereum treasury.
The investment positions BitMine as a leading ETH holder, underscoring the growing institutional interest in digital assets as a primary corporate reserve.
According to Tom Lee, the Chairman of BitMine, the transaction reflects the convergence of traditional financial services and cryptocurrency.
BREAKING: Tom Lee has been appointed chairman on the board of directors for Bitmine, a Bitcoin miner.
Today they announced a $250M private placement to implement buying Ethereum for their $ETH treasury. $BMNR, the public stock for Bitmine, is up 48% in the pre-markets.
Tom… pic.twitter.com/lItgWaONCr
— amit (@amitisinvesting) June 30, 2025
As corporate interest solidifies Ethereum’s role in the finance landscape, can the price of ETH hit new highs?
Ethereum Price Still In Consolidation – Aims For A Breakout
After touching the $4,000 level in December, the ETH price dropped through a sustained trend to the $1,575 support zone.
The support area allowed the Ethereum price to surge, which formed a rounded bottom pattern, a bullish reversal pattern.
However, after hitting the $2,700 resistance, now the neckline, the price of ETH has been consolidating below this level, aiming for a breakout, as data from GeckoTerminal shows.
The 200 Simple Moving Average (SMA) on the 3-day chart is currently trading below the ETH price, which supports the bullish sentiment, while the 50 SMA acts as a significant resistance level at around $2,785.
Meanwhile, the 50 SMA has also crossed above the 200 SMA, which has formed a golden cross at $2,717, confirming the bullish sentiment.
The Relative Strength Index (RSI) is also showing signs of a recovery, currently at 52, a potential signal that the price of Ethereum may be headed towards a breakout.
ETH Price Breakout Signals A 44% Surge
The BitMine ETH purchase is an indication of the corporate interest in the second-largest cryptocurrency by market capitalization.
If the corporate purchases continue, the Ethereum price may gain momentum, which could push ETH towards the 0 Fibonacci level at $2,865.
Sustained pressure at that level could push Ethereum to $3,530, representing a 44% surge from its current level.
Conversely, if the price of ETH loses momentum and drops below the 0.382 Fib level ($2,372), the next possible support could be within the 0.5 Fib level ($2,220) and around the 200 SMA.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called Bitcoin Hyper (HYPER), which aims to scale the Bitcoin blockchain.
According to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, HYPER could soar 10X after launch.
Bitcoin Hyper Presale Eyes The $2 Million Mark
Bitcoin has consistently demonstrated strong security, but still lags in terms of speed and flexibility. That’s finally starting to change.
The Bitcoin Hyper presale is now live, introducing something significant: Solana-like speed and smart contracts, built directly on top of Bitcoin.
Bitcoin Hyper integrates with the Solana Virtual Machine (SVM), the technology that enables Solana’s high speed. With SVM, apps can run with low fees and almost no delays.
Furthermore, the project functions on a decentralized Canonical Bridge, which ensures seamless and secure transfers between Bitcoin’s base layer and BTC Hyper.
Investors are betting big on the idea, having pumped over $1.80 million into the project’s presale.
🚨 Bitcoin Hyper is now live in Best Wallet! 🚨@BTC_Hyper2 is building Bitcoin’s first Layer 2 focused on real scalability — enabling fast, cheap BTC transactions, meme coins, dApps, and more.
It’s secured by Bitcoin L1 and powered by Solana VM tech for high speed and massive… pic.twitter.com/5Ktj12RCR1
— Best Wallet (@BestWalletHQ) June 5, 2025
Additionally, if you buy and stake now, you could unlock a 436% APY; however, this rate decreases as more people join, so timing is crucial.
Investors interested in participating in the presale can visit the official Bitcoin Hyper Token website to buy HYPER tokens for $0.0121 each using crypto or a bank card.
Buy before the next price increase in slightly more than 1 day.
Visit the Bitcoin Hyper website.
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