Bitmine Accumulates ETH While Market Sells: Vitalik Buterin and Whales Dump Ethereum

Investment firm Bitmine, co-founded by Fundstrat's Tom Lee, is reportedly accumulating Ethereum (ETH) amidst a broader market sell-off. On-chain data reveals significant selling pressure from large holders, including Ethereum co-founder Vitalik Buterin, whose known wallets have been moving ETH to exchanges. This divergence highlights a clash between institutional accumulation and whale distribution. Analysts are watching key Ethereum support levels as the selling from founders and early investors raises questions about short-term price action for the second-largest cryptocurrency. The situation presents a classic battle between bullish institutional positioning and bearish signals from major stakeholders.