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Ethereum dips below $1.9K as Fidelity moves $499M in ETH, Bitmine keeps buying amid mixed signals.

Market News
01 Aug 2026
AMBCrypto
View Source
Neutral
Ethereum dips below $1.9K as Fidelity moves $499M in ETH, Bitmine keeps buying amid mixed signals.

Ethereum fell below the $1.9K support level to around $1,848, showing weak short-term momentum despite some institutional optimism. Fidelity-linked wallets transferred $499.55 million worth of ETH, likely for internal custody rebalancing rather than selling. Meanwhile, Bitmine continued accumulating Ethereum, buying $19.48 million more, even as other treasury holders reduced exposure due to losses. Persistent withdrawals from exchanges could support a price recovery if demand holds, but technical indicators suggest possible further short-term pressure with a risk of falling below $1,800. Overall, the broader market remains bullish as Ethereum stays above its 200-day moving average.

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