Bitmine Acquires 33,000 ETH: Will a Santa Rally for Ethereum Follow?

Ethereum enthusiasts awakened on Monday to some exciting news: Bitmine has made a substantial move by purchasing an additional 33,000 ETH. As the ETH price hovers around a psychologically significant level, many investors are left wondering what Ethereum's trajectory will be leading up to the holidays—and whether a Santa rally is on the horizon.

Key Takeaways

Bitmine has purchased an additional 33,000 ETH, strengthening its position as the largest public Ethereum treasury.
A potential Santa rally in Ethereum may occur due to positive seasonal trends and whale accumulation.
Short-term traders need to decide whether to align with whales or wait for potential dips.
New presale opportunities, such as Pepenode, are gaining interest as traders look for high-return investments alongside Ethereum.

Bitmine Once Again Influences the Ethereum Price

Bitmine has established itself as the largest public Ethereum treasury, holding over 3.7 million ETH, which represents a considerable share of the overall supply. The recent acquisition of 33,000 ETH is not a reckless leap for them but rather a continuation of their clear strategy: while large investors buy the dips, retail investors remain hesitant.

Bitmine Once Again Influences the Ethereum Price

Source: Coinmarketcap

In recent months, Bitmine has consistently invested whenever the ETH price has dropped. Previously, they acquired over 28,000 ETH during a price correction, followed by tens of thousands more in successive days. Some analysts have dubbed Bitmine the "central bank of Ethereum" simply because their order book occasionally carries more weight than ETF inflows.

For the short term, the message is fairly clear: if a significant Ethereum whale is willing to park tens of millions in ETH just before year-end, they view the current price level more as an opportunity than a peak.

December Patterns and the Potential for a Santa Rally

In the stock market, investors have long recognized the phenomenon of a Santa rally: a year-end surge where riskier assets tend to make one last push. Increasingly, it seems that cryptocurrency may be following this same pattern. Ethereum recently rose over 8% in a short time, leading to widespread liquidations of short positions.

When this is combined with Bitmine's aggressive buying, it creates a blend that bullish traders like to see. Part of the market is anticipating a scenario in which:

The Ethereum price settles comfortably above a critical support level
Macro news (such as interest rate expectations) is favorable
And whales continue to accumulate rather than sell off

In such a scenario, an Ethereum Santa rally could push prices into a new range, with traders daring to discuss levels significantly above recent peaks.

What Could Ethereum Do If the Trend Continues?

While no one can predict with certainty how Ethereum will behave in the coming weeks, various scenarios can be outlined. Should the current buying pressure sustain and there be no major macroeconomic shocks, many traders seem to target a zone around $3,500 to $3,800 as the next area of interest. This would be a logical move following the recent short squeeze and renewed inflows into spot products.

If the price convincingly breaks through this zone, the $4,000 level might reemerge as a significant psychological threshold. However, if the buying enthusiasm from Ethereum whales diminishes or sentiments shift, ETH could easily retreat back to its current range.

Bitmine is clearly playing the long game: their goal to acquire up to five percent of the total ETH supply indicates that they are looking many years ahead, not just weeks. For short-term traders, the question is straightforward: do you join the whales or wait for the next dip?

For those seeking the best cryptocurrencies to invest in, major players like Ethereum remain in focus. However, some speculators are also reallocating part of their budget toward new cryptocurrencies in presale, aiming for the next 1000x opportunity rather than merely hoping for a solid year-end rally.

Pepenode as a New Opportunity Alongside the Ethereum Santa Rally

This brings Pepenode ($PEPENODE) into the spotlight, a presale project that is increasingly seen by a growing number of traders as a connection between meme-energy and more serious on-chain activity. In discussions surrounding top altcoins and leading meme coins, the name is frequently emerging as a “side bet” alongside a primary position in ETH.

The idea is that while ETH provides a relatively stable foundation, a smaller allocation in presale opportunities like Pepenode represents the potential for the “next crypto to explode.” Importantly, the tone in the investing communities is more cautious than during previous hype cycles.

Many investors emphasize a staggered entry, realistic expectations, and only investing funds they can afford to lose. While this might sound dull, this cautious attitude aligns well with the current risk-on sentiment surrounding this potential Santa rally.

Check out the official Pepenode presale and conduct your own research before deciding to participate.

Conclusion: Ethereum’s Santa Rally as a Catalyst and Presales as a Turbocharge

Bitmine's recent purchase of 33,000 ETH lays a strong foundation for current sentiment around Ethereum. Combined with seasonal patterns and recent price movements, a plausible scenario is developing where an Ethereum Santa rally could propel ETH prices higher.

For many investors, Ethereum remains the anchor, while a smaller portion of their portfolio shifts toward presale projects like Pepenode ($PEPENODE). This strategy allows them not only to capitalize on the year-end rally but also to be prepared when the next presale hype truly takes off.