ETF outflows + personnel changes + technical breakdown, triple pressure tests BitMine's faith recharge

ME News reports that BitMine holds 5.28 million ETH, representing 4.37% of the total supply, with an unrealized loss of about $7.35 billion. Since launching the ETH treasury strategy in July 2025 and continuing to increase its holdings, its average cost is approximately $3,513. The chairman said that ETH has historically seen V-shaped rebounds after pullbacks, but the current technical pattern forms an ascending wedge. If it breaks below key support or falls to $1,600, unrealized losses could exceed $10 billion. It is also facing pressures such as ETF outflows, deteriorating market sentiment, and personnel changes within the foundation.