Key Highlights ETH maintained stability between $2,700-$2,740, recording its first weekly settlement above $2,700 since nine months prior. Treasury firm BitMine acquired an additional 15,112
The Ethereum token maintained its position around $2,707 during Monday’s trading session, registering a modest 0.52% gain across the previous 24-hour window. This positioning kept the digital asset comfortably above the psychologically important $2,700 threshold as the new trading week commenced.
Ethereum (ETH) Price
The wider cryptocurrency ecosystem demonstrated resilience with a 0.68% increase during the identical timeframe. Aggregate market valuation for digital assets touched $2.93 trillion.
Bitcoin sustained its position north of $85,000. Meanwhile, XRP remained anchored above the $1.50 level. These movements extended upward trends that originated in the middle of September.
The second-largest cryptocurrency by market capitalization secured a weekly settlement above $2,700 for the first time in nine months. Market observers highlighted this milestone as evidence of strengthening bullish sentiment.
Corporate Ethereum accumulator BitMine executed a purchase of 15,112 ETH tokens during the preceding week. This strategic acquisition elevated the company’s cumulative position to 6,016,414 ETH.
BitMine Buys Another 15,112 ETH, Holdings Rise to 6.02M ETH
BitMine said it acquired 15,112 ETH over the past week, bringing total holdings to 6,016,414 ETH as of October 4, or about 4.9% of Ethereum’s 122.1 million supply. The company said it is now 99% of the way toward its… pic.twitter.com/FrwxxrsVfj
— Wu Blockchain (@WuBlockchain) October 5, 2026
The fresh acquisition carried an approximate valuation of $41 million, calculated at the referenced price point of $2,726 per token. BitMine’s current reserves represent approximately 4.9% of Ethereum’s circulating supply.
Market commentary platform Crypto Banter disseminated the information via social channels. Their analysis noted that Bitmine supplemented its treasury with 15,112 ETH during the seven-day period, representing $41 million in value, elevating aggregate holdings to 6,016,414 ETH or 4.9% of available supply, positioning the entity at 99% completion toward its 5% acquisition goal with combined cryptocurrency, fiat currency and staking positions valued at $17.4 billion.
BitMine’s Chairman Thomas Lee highlighted that ETH delivered superior returns versus the S&P 500 by 6,832 basis points throughout Q3. His observations emphasized this performance occurred amid challenging macro conditions including restrictive Federal Reserve policy, ascending crude oil valuations, and elevated sovereign debt yields worldwide.
Ethereum appreciated more than 70% during the third quarter. This represented its most impressive quarterly performance since Q1 2021.
Beyond Ethereum, BitMine maintains 214 Bitcoin tokens, a $180 million equity position in Beast Industries, plus a $117 million stake in Worldcoin treasury entity Eightco Holdings. Financial disclosures revealed $643 million in liquid assets and tradable securities.
Notwithstanding these accumulation efforts, Ethereum’s trading liquidity has deteriorated. Median order book depth contracted to 35-45% of Bitcoin’s liquidity levels, declining from minimum 60% ratios observed in 2025, per CoinGecko analytics.
Market technician Ted Pillows drew attention to Ethereum’s most robust weekly candlestick formation in over eight months. His assessment stated that Ethereum recorded its highest weekly closing candle in 8+ months, and projected that a weekly settlement exceeding $2,800 accompanied by substantial spot buying pressure could propel Ethereum toward the $3,400-$3,500 territory.
$ETH closed its highest weekly candle in 8+ months.
Now, Ethereum needs a weekly close above $2,800 with strong spot demand and it'll rally towards $3,400-$3,500. pic.twitter.com/ODGEN0lLag
— Ted (@TedPillows) October 5, 2026
His technical framework identified support zones near $2,550 and $2,200, with $1,965 serving as a more significant support floor should bearish momentum intensify.
Activity in Ethereum derivatives markets exhibited expansion. Trading turnover advanced 15.17% to $29.02 billion, while aggregate open interest increased 1.14% to $34.10 billion.
Options contract volume surged 33.58% to $1.15 billion. Outstanding options interest expanded 1.62% to $6.25 billion.
However, not all indicators suggested continuation upward. United States-listed spot Ethereum exchange-traded funds registered $138 million in net redemptions across the previous week, extending a four-day streak of capital outflows, based on SoSoValue tracking data.
According to data from SoSoValue, US spot Bitcoin ETFs recorded a total net outflow of $89.8978 million on October 5 (EDT), with BlackRock's IBIT being the sole fund to see net inflows. Meanwhile, spot Ethereum ETFs saw a total net inflow of $111 million yesterday, with… pic.twitter.com/15qFwef8EI
— Wu Blockchain (@WuBlockchain) October 6, 2026
From a charting perspective, Ethereum has defended support territory near $2,657, bolstered by its 20-day Exponential Moving Average. A breakdown beneath this technical floor could shift attention toward the 50-day EMA alongside $2,432.
Regarding upside potential, breaching $2,790 resistance might establish trajectory toward $2,880 initially, followed by $3,066. Liquidation data shows Ethereum triggered $36.6 million in forced position closures during the past 24 hours, with $20.4 million attributed to bearish wagers.
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