Ethereum Price Forecast: BitMine sees tokenization driving ETH outperformance against Bitcoin
- BitMine repurchased 1.7 million shares of its common stock and bought 9,926 ETH last week.
- The company says tokenization and agentic AI could spur ETH outperformance relative to Bitcoin in the coming cycle.
- ETH faces the 100-day EMA test again after a month-long rejection.
Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) predicts that tokenization and agentic-AI could push the top altcoin to outperform Bitcoin (BTC) in the coming cycle.
BitMine maintains ETH buying streak, calls for outperformance
BitMine continued its stock buybacks coupled with mild ETH acquisitions last week.
The company reported repurchasing 1.7 million shares of its common stock, BMNR, bringing its total repurchases since July 1 to 20.8 million shares. The move comes under its previously authorized $4 billion share buyback program.
BitMine also acquired 9,926 ETH last week, continuing its weekly purchasing streak of the top altcoin, which began in June 2025. The latest acquisition has lifted the company's Ethereum holdings to 5.815 million ETH.
BitMine's Chairman Thomas Lee noted that rising tokenization and the agentic-AI trend have helped the ETH/BTC ratio move above its one-year downtrend.
"This ETH/BTC ratio has moved up during crypto bull cycles, driven by increasing use of Ethereum relative to Bitcoin," said Lee in a Monday statement. "These prior cycles were fueled by ICOs (2017-2018), NFTs (2020-2021), and stablecoins (2025). In this upcoming crypto cycle, we see the ETH/BTC ratio rising, driven by Wall Street tokenizing on the blockchain and by agentic-AI using blockchains."
The company reported that it has staked 87% of its holdings, 5.067 million ETH, with an annualized staking revenue of $250 million. BitMine also holds 210 BTC, $73 million in Eightco Holdings shares (ORBS), a $180 million stake in Beast Industries and $78 million in cash and marketable securities.
Meanwhile, US spot ETH ETFs saw $2.26 million in net outflows last week, breaking a five-week inflow streak, per SoSoValue data.
Ethereum Price Forecast: ETH retests major 100-day EMA resistance
Ethereum recorded $29.7 million in liquidations over the past 24 hours, led by $19 million in short liquidations, according to Coinglass data.
On the daily chart, ETH holds a constructive short-term tone as it trades slightly above the 20- and 50-day Exponential Moving Averages (EMAs), now clustered as support near $1,885 and $1,868, while remaining capped by the 100-day EMA at $1,918.
Momentum metrics back the mild bullish bias, with the Relative Strength Index hovering around 56 and the Stochastic oscillator near 63, both suggesting positive but not overstretched buying pressure as price consolidates just under the medium-term average.
On the topside, immediate resistance is located at the 100-day EMA, which has rejected every upward move since mid-July. A break higher exposes the horizontal barrier at $1,961, ahead of more distant resistance levels at $2,172 and $2,431.
On the downside, initial support is aligned with the nearby 20-day and 50-day EMAs, followed by a stronger horizontal floor at $1,809. Below that, deeper supports emerge at $1,701 and $1,507 if selling pressure accelerates.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
