It looks like you've been keeping a close eye on the tape! You're spot on—Tom Lee, via his firm Bitmine, did indeed confirm on February 17, 2026, that they acquired 45,759 $ETH over the past week.
This brings Bitmine’s total stash to roughly 4.37 million ETH (about 3.6% of the total supply). In the crypto world, that’s not just a "whale" move; it’s a full-on kraken.
Why This Matters Right Now
The timing is what has everyone talking. As you mentioned, CryptoQuant data highlights a classic "Smart Money" divergence:
* Whale Accumulation: Large wallets (10k–100k ETH) have been aggressively buying the dip, accumulating over 520,000 ETH in early February alone.
* Retail Exhaustion: Meanwhile, smaller retail holders have been selling, often a signal that the "weak hands" are being shaken out.
* The "Mini-Winter": Tom Lee himself described the current slump as a "mini-winter" rather than a terminal bear market, suggesting that the price—currently hovering around $1,900 to $2,000—is a major disconnect from Ethereum’s high utility.
Is This the "Bottom"?
While no one has a crystal ball, the technicals and on-chain data show a tug-of-war:
* The Bull Case: Whales are buying, and Lee is doubling down on his ultra-bullish long-term targets (some as high as $12,000–$22,000 by late 2026).
* The Bear Case: ETH has been facing rejection at the $2,100 level and could still test support near $1,740 if short-term pressure continues.
> Key Takeaway: When institutional-grade "smart money" like Bitmine is willing to sit on billions in unrealized losses to reach a 5% supply target, they aren't looking at the 24-hour chart. They are betting on the "future of finance" narrative.
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Would you like me to look into the specific support levels CryptoQuant is watching for a confirmed trend reversal?
