Ethereum Price Prediction: 5% Weekly Drops as Bitmine Plans to Stop ETH Buying
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Ethereum latest selloff has put a key support zone and price prediction under pressure. ETH falls to $2,500 after 5% weekly decline following the sharper move. The question now is whether buyers can hold the $2,500–$2,560 area as a major treasury buyer nears its stated limit.
At TOKEN2049 in Singapore on October 7, Bitmine chairman Tom Lee said the firm needed to buy about 100,000 more ETH to reach 5% of the circulating supply, then would stop accumulating. Bitmine reported holdings of 6,016,414 ETH, around 4.9% of supply, after buying approximately $41 million worth during the prior week.
The announcement removes a prospective source of recurring demand; a chart or quote embed of Lee’s remarks would make that catalyst plain.
The shift lands alongside six consecutive trading days of reported US spot ETH ETF outflows. That combination matters: weaker fund flows and a finite corporate bid leave less support if broader risk appetite fades. Here are the levels that define the near-term setup, and the alternative infrastructure thesis some traders may consider.
Earn $50 and Enter $300K Prize Draw on EdgeXEthereum Price Prediction: Can ETH Hold $2,500 This Week?
ETH is testing support. The $2,500–$2,560 band is the immediate line to watch, with $2,548–$2,560 identified as a tighter support pocket. A sustained daily close below $2,500 would weaken the structure and put $2,330–$2,355 in view; broader support sits near $2,200.
On the upside, $2,600 is the first reclaim level, followed by $2,630–$2,650. The former $2,631 and $2,656 levels have turned into resistance after being lost. The October 8 level map offers the relevant near-term framework.
The scenarios are straightforward. Bull case: support holds, and ETH reclaims $2,600–$2,650, opening a test of $2,680–$2,700. Base case: price chops around support while traders wait for ETF flows and Bitmine’s next update. Bear case: a daily close under $2,500 exposes the lower band.
What changes the balance? A return above $2,600 would stabilize the setup; a break below $2,500 would invalidate that read. For more context on Ethereum liquidity and downside levels, traders can compare the broader support picture.
Trade Ethereum on Bybit and Get a Chance to Win Our $1,000 USDT AirdropLiquidChain Targets Early Mover Upside as Ethereum Tests Key Levels
For ETH holders, this is a demand-risk story, not just a chart wobble. If Bitmine stops buying and ETF outflows persist, rallies may face a thinner marginal bid; rotation into early-stage projects carries a different, higher-risk profile rather than a direct hedge.
This distinction matters. A presale does not reduce exposure to ETH’s volatility, and its liquidity and execution risks are separate.
LiquidChain ($LIQUID) is a Layer 3 infrastructure project positioning itself as “The Cross-Chain Liquidity Layer.” It aims to merge Bitcoin, Ethereum, and Solana liquidity into one execution environment, with a deploy-once architecture for developers seeking access across ecosystems.
The presale price is $0.014963, and the total raised is $982K. Its listed features include a Unified Liquidity Layer, Single-Step Execution, and Verifiable Settlement. Staking APY is also offered at a high 1100% APY reward, only for early holders.
Research LiquidChain and review the project details before the funding window closes.
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