Ethereum Updates: BitMine Anticipates Ethereum Rebound Despite Indicators Pointing to a Fall Below $2,000

Ethereum's on-chain indicators are signaling a possible drop below $2,000, with experts

in the MVRV Pricing Bands to forecast a 28% decrease from current prices. This indicator, which uses the MVRV ratio and Realized Price (RP), has reliably marked market bottoms when falls under the 0.8x RP band—a level now set at $2,007.08 . This scenario played out in June 2022, December 2022, and March 2025, implying a similar trend could occur as is currently trading at $2,820 .

The Realized Price, reflecting the average acquisition cost of all circulating ETH,

. Although holders are still in profit, a further decline below $2,500 could result in widespread losses and speed up ETH's descent toward $2,000 . Such a move would mirror broader market instability, as both and Ethereum dropped over 20% in November during a $19 billion liquidation event on October 10 .

During this downturn, BitMine, the leading Ethereum treasury, has chosen a different strategy. The company

to introduce the Made in America Validator Network (MAVAN) in early 2026, aiming to stake its 3.55 million ETH—worth $10 billion. Despite facing $4 billion in unrealized losses, BitMine chairman Tom Lee considers the current market weakness a "prime chance" to buy ETH at lower prices . BitMine has also per BMNR share, reflecting optimism for a long-term rebound.

At the same time, the introduction of 3x leveraged Bitcoin and Ethereum ETFs in Europe has increased market swings. Leverage Shares' latest offerings on the SIX Exchange

to digital assets just as and ETH have fallen 13% and 14% respectively over the past week. Market watchers could intensify liquidations during turbulent periods.

The vulnerability of the crypto sector has been underscored by recent incidents, such as

targeting Aerodrome Finance and the failure of MegaETH's $1 billion token sale due to technical glitches . These events highlight the increasing risks for investors as the industry faces regulatory ambiguity and economic challenges.

On-chain data points to continued bearish pressure for Ethereum. The NUPL indicator, which measures unrealized gains and losses,

—a zone historically linked to panic selling. Should ETH fail to hold above $3,000, it may drop toward $2,814, further worsening the negative outlook .