#ETH突破$4,600# Ethereum (ETH) price has broken through the $4600 mark, approaching historical highs. This rise not only reflects the overall market recovery but is also driven by large-scale purchases from the institutional giant BitMine.

BitMine has shifted from Bitcoin mining to heavily investing in Ether, with holdings exceeding 1.15 million ETH in just two months, reaching a market value of nearly 5 billion dollars, becoming the world's largest enterprise-level holder of Ethereum.
What is more concerning is that BitMine plans to raise $24.5 billion through stock issuance to continue buying ETH on a large scale, locking in market supply and driving up prices. Its financing is supported by top investment institutions such as Peter Thiel and Cathie Wood, enhancing market confidence.

From a technical perspective, Ethereum's recent price movement has been strong, and the technical indicators are performing well:
RSI is approaching 70, indicating strong buying in the short term, but caution is needed for potential overbought adjustments; MACD maintains a golden cross, with bullish momentum stable;
The short, medium, and long-term moving averages have formed a "golden cross," indicating a clear trend; trading volume has increased simultaneously, making the market active.
The open interest in the futures market is approaching $60 billion, reflecting a high level of capital activity.

At the same time, the regulatory environment is favorable, with the US SEC taking a more open attitude towards Ethereum ETFs. Project Crypto promotes regulatory clarity, and stablecoin regulations are gradually improving. These favorable policies lower the entry barriers for institutions, attracting more traditional financial capital to flow in, which helps to push up the price of Ethereum.
At the same time, BitMine raised low-interest funds by reducing financing costs to buy ETH on a large scale, creating strong buying pressure and pushing up prices. This strategy attracted other institutions to follow suit, creating a resonance of funds and leading to a healthier market structure.

In the short term, if BitMine continues to increase its position and the funds remain stable, ETH is expected to break through 5000 USD and even reach 6000 USD.
In the medium term, with clearer regulations and continuous institutional investments, prices may reach higher levels.
Investment advice:
Build positions in batches to avoid the risk of a one-time purchase; set reasonable stop-loss levels to prevent significant drawdowns; pay attention to policies and market dynamics, and adjust strategies flexibly.