Ethereum RSI Hits 17.4 Low as Bitmine Buys $213M in ETH
BMNR•Ethereum’s daily RSI dipped to 17.4, its lowest ever, and Tom Lee’s Bitmine acquired $213M in ETH, marking its largest purchase. Despite a more than 60% decline from its 2025 peak near $4,946, analysts still project prices could reach $25,000 to $60,000 by year-end.
1. RSI Milestone
Ethereum’s daily Relative Strength Index fell to 17.4, marking the lowest oversold reading in its history. Readings below 30 indicate extreme selling pressure, suggesting the network has entered uncharted bearish territory.
2. Bitmine's $213M Acquisition
Tom Lee’s fund Bitmine executed its largest-ever purchase by acquiring $213M in Ethereum tokens. This aggressive dip-buy underscores institutional confidence in a potential market bottom.
3. Historical Market Bottoms and Future Outlook
Previous RSI extremes during March 2020 and the 2022 FTX collapse preceded rallies from sub-$100 and sub-$1,000 lows to multi-thousand-dollar highs. Despite a 60%+ drop from the 2025 peak near $4,946, bullish forecasts still envision $25,000–$60,000 by year-end.
