BMNP
----
This chart shows the power-law distribution of BMNR and ETH tracked since August '25.
As seen above, there is a clear gap for ETH between 2.4k and 2.8k. Below 2.4k, both upside and downside ranges contract significantly, corresponding to the compression of BMNR's premium when ETH fell into the 1.5k-2.4k range over the past six months; above 2.8k, these ranges expand, implying greater volatility for BMNR vs. ETH, thus opening up upside potential for mNAV.
The sharp drop in ETH in February '26 created a vacuum zone between 2.4k and 2.8k. Chips in this range haven't undergone sufficient turnover, meaning there's little resistance here. A breakout could lead to a rapid surge to 2.8k, at which point BMNR's mNAV also has the opportunity to expand significantly.
The key observation level for ETH is the breakout of 2.8k.
$BitMine Immersion Tech(BMNR.US)
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.