Ethereum (ETH) experienced a 3% decline on Monday as BitMine (BMNR) revealed that it had increased its treasury by 373,000 ETH, valued at approximately $1.7 billion.
Tens of thousands of dormant Bitcoins from the Satoshi era awakened in July. Investors absorbed the supply without triggering a price decline. However, more dormant whales are resurfacing in August. The question is whether the market can absorb them as effectively as last month.
Bitcoin (BTC) advances the pullback phase below the $115,000 level to test a crucial dynamic support, the 50-day Exponential Moving Average (EMA), at press time on Monday. The pullback spreads amid broader market fear, resulting in liquidations of over $500 million in the last 24 hours.
