Will the 4 million ETH held by BitMine push BMNR’s price onto a 30% risk downside path? Charts reveal more insider details

Reported by Bijie Network: BitMine Immersion Technologies (BMNR) is under significant pressure as its massive treasury of 4.2 million ETH (worth approximately $11.1 billions) has suffered losses due to a $14.7 billions investment. This unrealized loss has led to a lack of market confidence and has hindered large-scale capital inflows, as evidenced by the continued negative Chaikin Money Flow. From a technical perspective, BMNR is testing a key neckline near $25.94; if this neckline is breached, the price could drop by 30%, and bearish momentum indicators such as the 50/200-day moving average death cross further exacerbate the risks to Ethereum's trend.