Harvard has fully liquidated—are BitMine’s 5+ million ETH the last act of faith, or the next bomb?

Ethereum falls below $2000 for the first time since March, retail investors' buy-the-dip sentiment rises. Historically, overly optimistic retail investors often indicate that the bottom has not yet been reached, and true bottom-fishing usually occurs during panic phases. Institutions and whales continue to reduce their holdings, ETF net outflows, Harvard funds and others are clearing positions; Glassnode reports that since 2026, large whale holdings have decreased by 5%; BitMine still holds about 5.21 million ETH. From a technical perspective, breaking below the ascending wedge suggests the price may drop to around $1,750, with approximately 18% downside potential.