ETH Rises 0.47% in One Hour; BitMine’s Continued Accumulation and Net Inflows Into Institutional ETFs Provide Downside Support

From 16:00 to 17:00 UTC on August 5, 2026, ETH was quoted at 1,873.59–1,882.53 USDT, with a 1-hour Return % of +0.48% and an Ampl of 0.48%. Overall, it showed a narrow-range consolidation pattern, with intraday volatility below $30. The 24h Rise % was only 0.37%, while the price moved sideways within the $1,870–$1,885 range. Market attention was neutral, and volatility remained within the range of normal noise.

The main drivers of this move were BitMine’s continued execution of its large-scale ETH purchase strategy and positive institutional news, which boosted confidence in bids. BitMine purchased another 10,399 ETH last week, bringing its total holdings to approximately 5.8M ETH, or 4.8% of the circulating supply. It is only about 257k ETH short of its 5% target, worth approximately $484 million. Sustained bids are providing structural demand support for ETH. Meanwhile, BlackRock launched two tokenized funds on the Ethereum network, further strengthening the narrative of institutional ETH allocation.

Second, the Fed’s decision to leave interest rates unchanged led to a slight contraction in short-term risk appetite. Combined with the market’s wait-and-see sentiment, triggered by weakening macroeconomic labor data, this suppressed upside momentum. Spot Ethereum ETFs recorded their strongest monthly net inflows since the end of 2025, highlighting a divergence between institutional long-term allocation confidence and short-term volatility. Order book data showed a large buy wall at $1,879.22, accounting for 77.1% of the total volume across the top five levels. However, the buy-to-sell depth ratio of 1.49 was close to balanced, and neither bulls nor bears currently showed a strong willingness to break out.

In the short term, attention should be paid to the $1,855 support level and $1,885 resistance level. Progress on BitMine’s remaining purchase plan and developments regarding Ethereum’s proposal to reduce issuance will serve as potential catalysts. Current volatility is extremely low; investors are advised to monitor on-chain fund flows and macroeconomic news while carefully assessing short-term leverage risks.