Bitmine Immersion Technologies (NYSE:BMNR) surged 7.5% to $20.91 after buying 71,252 ETH last week—the fastest pace since December—as the stock uplists to NYSE on April 9.

The Accumulation Blitz

Chairman Tom Lee framed the buying as a bet that Ethereum is in “the final stages of the mini-crypto winter.”

Total crypto and cash holdings now stand at $11.4 billion, including $864 million in cash, 198 BTC, and stakes in Beast Industries and Eightco Holdings (NASDAQ:ORBS). 

The ORBS position gives Bitmine one of the only publicly listed exposures to OpenAI.

Bitmine now owns 3.98% of Ethereum’s 120.7 million circulating supply, putting it 79% of the way to its “Alchemy of 5%” target in just nine months. The company remains the largest …

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Bitcoin (CRYPTO: BTC) is trading below a key resistance zone, raising concerns that recent price stability may be masking deeper risks tied to late-stage economic conditions.

Late-Cycle Warning Signs

Prominent analyst Benjamin Cowen said on Monday that retail investors may be growing overly confident — overlooking macro pressures, such as persistent inflation, a weakening labor market and rising geopolitical tensions.

He noted that late-cycle bear markets often feature deceptive price action, sideways or mildly bullish moves on low volume, that can mislead traders into believing the downturn has ended before another sharp decline begins.

A key …

Full story available on Benzinga.com