<div id="readability-page-1"><img width="1152" height="720" src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/09/ethereum-wall-street.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/09/ethereum-wall-street.png"/>BitMine stock price continued its downtrend as Bitcoin and Ethereum dropped, a trend that may continue on Friday now that the crypto market crash is accelerating. BMNR dropped to $26.70, down by 83% from its highest level in July last year. This article explores why the stock may continue falling in the near term.<h2>BitMine stock at risk as Ethereum price slips</h2>Ethereum price crashed to a low of $2,683 on Friday, down sharply from the all-time high of $4,950. It continued the downtrend after it emerged that Kevin Warsh would become the next Federal Reserve Chair despite his past criticism of the crypto industry.The daily timeframe chart shows that Ethereum price dropped to a low of $2,683, its lowest level since November 21st last year. It has moved below the 50-day and 100-day Exponential Moving Averages (EMA).The coin has crashed below the 61.8% Fibonacci Retracement level at $2,743. It also moved below the Weak, Stop &amp; Reverse level of the Murrey Math Lines tool.Ethereum price has moved below the Supertrend and Ichimoku cloud indicators, a highly bearish sign in technical analysis. The Relative Strength Index (RSI) and the MACD indicators have continued falling in the past few months.Therefore, the most likely scenario is where Ethereum continues falling, potentially to the next key support level at $2,500. A move below that level will point to more downside, potentially to the 78.6% Fibonacci Retracement level at $2,145.<figure><img width="3574" height="2022" src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2026/01/Ethereum-price-4.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2026/01/Ethereum-price-4.png"/><figcaption>ETH price chart | Source: TradingView</figcaption></figure><h2>BitMine stock price technicals points to more downside </h2>The daily timeframe chart shows that the BMNR stock price has crashed in the past few months, moving from a high of $160 in July last year to a low of $28.70.The stock has remained below all moving averages and the Supertrend indicator. A closer look shows that the stock has formed a highly bearish descending triangle pattern.The lower side of this pattern was at $25.50, while the upper side connects the highest swings since October last year. The two sides are nearing their confluence level.Meanwhile, the stock has moved below the 50-day Exponential Moving Average (EMA) and the Supertrend indicator.Therefore, the most likely scenario is where the stock makes a strong bearish breakdown, potentially to the key support level at $20.<figure><img width="3574" height="2022" src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2026/01/BitMine-stock.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2026/01/BitMine-stock.png"/><figcaption>BMNR stock chart | Source: TradingView</figcaption></figure><h2>BitMine’s long-term outlook is bullish </h2>The ongoing weakness in the BMNR stock price will be brief as the company has several bullish catalysts in the future.Its main catalyst for the stock is that Ethereum has more upside in the long term. Data shows that Ethereum’s network is thriving, with the number of active addresses and transactions soaring. Its active addresses rose by 54% to over 14.7 million, while transactions rose by 40% to 67 million.<figure><img width="2388" height="921" src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2026/01/Ethereum-Transactions.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2026/01/Ethereum-Transactions.jpeg"/><figcaption>Ethereum active addresses | Source: Nansen</figcaption></figure>Ethereum is also a major player in the decentralized finance (DeFi) and Real-World Asset (RWA) tokenization industry, with its network being used by popular companies like JPMorgan and Janus Henderson.BitMine will also become a major cash generator in the long term because of its staking solution. It now holds 4.3 million tokens, and its goal is to get to 6 million. Ethereum has a staking reward of 2.85%, meaning that its hoard will make 17,100 ETH tokens a year. At the current price, it means that the company will start making nearly $500 million a year.The post Here’s why Tom Lee’s BitMine stock price is at risk of a steep dive appeared first on Invezz</div>

BitMine's stock price (BMNR) is at risk of further decline, currently at $26.70, down 83% from its July peak. The drop is linked to the broader crypto market crash, particularly Ethereum's fall to $2,683. Technical indicators suggest continued bearish momentum for both Ethereum and BMNR, with potential support levels at $2,500 for Ethereum and $20 for BMNR. Despite the current downturn, BitMine has long-term bullish prospects due to Ethereum's growing network and its own staking solutions, which could generate significant revenue in the future.

- BitMine stock (BMNR) has fallen significantly to $26.70, down 83% from its peak in July 2022, largely influenced by the drop in Bitcoin and Ethereum prices amid a worsening crypto market.  
- Ethereum's price decline, exacerbated by the announcement of Kevin Warsh as Federal Reserve Chair, sees it slipping below critical support levels, indicating a potential further drop to around $2,500.  
- Despite the current downturn, BitMine's long-term outlook remains positive, supported by a growing Ethereum network and a promising staking solution expected to generate substantial revenue.