Citigroup’s 540% BitMine Stake Grows Despite Bear Flag Pattern
Citigroup boosted its BitMine (BMNR) stake by 540% quarter-on-quarter even as BMNR traded in a bear flag pattern following a 60% slump since December 2025. BMNR spiked 6% on February 13 and climbed 7.32% over five days, but hidden RSI bearish divergence and resistance near $21.57 suggest further downside risk.
1. Citigroup Increases BMNR Holdings by 540%
Citigroup raised its stake in BitMine (BMNR) by 540% quarter-on-quarter, signaling strong conviction despite recent volatility. This larger position leaves the bank more exposed to BMNR’s price swings after the stock rallied 7.32% over the past five days.
2. Bear Flag Pattern Signals Potential Downturn
BMNR has formed a bear flag pattern since early February after a nearly 60% decline from December 10, 2025, to February 5, 2026. The subsequent 26% rebound represents the flag consolidation, and failure to break above $21.57 could trigger another drop.
3. Hidden RSI Divergence Highlights Seller Control
Momentum analysis shows a hidden bearish divergence: RSI rose while BMNR price created lower highs, indicating sellers remain in control. If BMNR can’t surpass key resistance, the divergence may culminate in a fresh breakdown.
4. Short-Term Performance Versus Ethereum
BMNR outperformed Ethereum, rising 6% on February 13 while ETH fell 3.3% over the week, suggesting a temporary decoupling. However, this divergence underscores the fragility of BMNR’s recovery without a decisive breakout.