Why BMNR Stock is in Freefall and Ethereum is Just Laughing

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Ah, the thrilling world of stocks and cryptocurrencies-where fortunes are made and lost faster than you can say “bearish flag pattern.” This week, we find ourselves watching the BMNR stock price retreat for the third consecutive day. It’s like a sad puppy that just can’t seem to find its way home. 🐶

In case you’re keeping score, this little stock has slipped to $31.12, its lowest point since December 2. That’s an 80% drop from its high this year, which is about as comforting as finding a hair in your soup. 🍲

  • BMNR stock is on the brink of a bearish breakout-fun times ahead!
  • It has formed a symmetrical triangle pattern on the daily chart. Because what’s more exciting than geometry?
  • Ethereum has decided to throw a bearish flag, as if to say, “Down we go!”

BitMine Immersion, helmed by the ever-optimistic Tom Lee (who I imagine has a shrine dedicated to bullish trends), is now accumulating Ethereum like it’s going out of style. Last week they bought 102,259 coins. At this rate, they might as well open a coffee shop that only sells Ethereum lattes. ☕️💰

But don’t fret, because BitMine has plans! They’re aiming to become the second-biggest crypto treasury after Michael Saylor’s Strategy, which sounds like the name of a bad action movie. Their grand plan hinges on a potential Ethereum price rebound in the long term. You know, the kind of “long term” that makes a tortoise look like it’s sprinting. 🐢

Still, there’s a cloud of doom hanging over BMNR stock, as Ethereum has formed a bearish flag. This pattern usually means more downside, which is great if you’re a bear, but not so much if you’re holding the bag. 🐻

The stock remains below all moving averages and the Supertrend indicator, suggesting we might be headed for a major bearish breakdown. Experts predict a freefall from the current $2,940 to $2,500. It’s like watching a car crash in slow motion-you can’t look away, but you wish you could. 🚗💥

Long term, though, experts believe Ethereum will rebound and soar to record highs. Sure, just like my New Year’s resolutions. The fundamentals are strong, with Ethereum growing in sectors like decentralized finance (DeFi) and NFTs, or as I like to call them, “non-fungible tokens,” because naming things is hard. 🎨

BMNR Stock Price Technical Analysis

Let’s take a gander at the daily chart. The BitMine stock price has crashed harder than a toddler’s tantrum. From a high of $160 in July to a pitiful $30.5-it’s a real rollercoaster ride without the safety harness. 🎢

The stock has dipped below the upper side of a symmetrical triangle pattern, which sounds fancy but just means it’s heading for trouble. This triangle is nearing its confluence level, which is exactly how I feel when I try to fit into my pre-pandemic jeans. 😬

Oh, and did I mention the mini death cross pattern? Yes, the 100-day and 50-day moving averages have crossed paths, and not in a romantic way. Sellers are likely eyeing the key support level at $20, which feels like a cruel joke.

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2025-12-16 21:27