Ethereum (ETH) has slipped below the $3,000 mark, trading at $2,950 as technical patterns signal deeper losses despite aggressive institutional accumulation. Tom Lee's Bitmine added 44,463 ETH worth $130 million during the pullback, lifting total holdings to 4.11 million tokens. However, an inverted cup and handle formation on the daily chart suggests further downside risk toward $1,000 to $1,200 over the coming months.
Ethereum Technicals Worsen, Key Support at Risk
ETH has been declining since failing to maintain momentum above $4,500 earlier in 2025. The daily chart reveals a clear inverted cup and handle pattern, typically signaling continuation of downward movement. Price action prints lower highs and lower lows, confirming a broader downtrend that started after ETH peaked near $5,000. The $2,900 to $3,000 zone represents critical support that previously served as both resistance and support. The Relative Strength Index sits at 44, below the neutral 50 level, showing selling pressure dominates across timeframes. A daily close beneath current support could expose Ethereum to a move toward the next major support near $1,000 to $1,200. To signal any short-term relief, ETH would need to reclaim $3,200 first, with stronger recovery requiring a break above $3,500 to $3,600 where heavy selling occurred.
Bitmine Buys Big but Fails to Halt Slide
Tom Lee's Bitmine has positioned itself as the largest source of fresh ETH buying during recent market weakness. The firm increased its Ethereum reserves and has staked 408,627 ETH to earn yield while supporting the network. Lee stated that year-end conditions, including seasonal tax-loss selling, created attractive accumulation windows for institutional buyers. Nevertheless, institutional support has not prevented technical deterioration on price charts.
Mutuum Finance Presale Heats Up, Phase 7 at $0.04 Nears Sellout
While Ethereum faces technical headwinds, Mutuum Finance (MUTM) is emerging as a new crypto coin attracting investor attention. The presale has raised $19,500,000 and onboarded 18,630 holders, demonstrating strong institutional and retail interest. Phase 7 tokens are priced at $0.04, marking a 300% increase from Phase 1's $0.01. Once Phase 7 sells out, Phase 8 will open with a nearly 20% price increase to $0.045. Mutuum Finance will then continue rising until it launches for trading at $0.06. Post-launch, market strategists project a possible upside of 5-10x or more as the crowd catches on. Mutuum Finance has lowered its barrier of entry by allowing credit and debit card purchases, meaning the presale is no longer limited to crypto-native investors.
Dual Lending Model and Testnet Milestone
Mutuum Finance operates two complementary lending systems: the Peer-to-Contract model powers pooled liquidity markets for major assets like ETH and USDT; the Peer-to-Peer model supports isolated lending markets for less common tokens, giving institutional players and advanced users greater control. The project confirmed in an official X post that the V1 protocol will debut on the Sepolia testnet, including essential components such as a Liquidity Pool, mtToken, Debt Token, and Liquidator Bot. Halborn Security recently reviewed MUTM's lending and borrowing contracts; the code is finalized and all feedback integrated. This comprehensive security process provides confidence for participants seeking the best crypto to buy during volatile market conditions.
Phase 7 is disappearing quickly at $0.04, representing the last chance to secure tokens before the price jumps to $0.045. Missing this phase means immediately facing higher entry costs. Mutuum Finance offers fundamental value while Ethereum faces technical headwinds. Current buyers are positioning themselves for substantial gains once exchange listings begin.