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BitMine halts Ether buying after reaching 4.9% of supply, signaling reduced demand amid ETF outflows and uncertain upgrade dates.

Market News
08 Oct 2026
CryptoTicker
View Source
Bearish
BitMine halts Ether buying after reaching 4.9% of supply, signaling reduced demand amid ETF outflows and uncertain upgrade dates.

BitMine, the largest single buyer of Ether, is set to stop its weekly purchases within six to seven weeks after reaching 4.9% of the circulating Ether supply, just shy of its 5% cap. This halt comes as Ether ETFs experience significant outflows, totaling over $500 million in five days, adding selling pressure to the market. Additionally, the upcoming Ethereum network upgrade, Glamsterdam, lacks a fixed mainnet activation date, reducing potential bullish catalysts. Investors should consider holding periods, buying routes, and staking options carefully as market dynamics shift with BitMine's exit and ongoing ETF withdrawals.

The story about BitMine's Ether buying cap is presented here with Pluang's market data for context. As of Oct 08, 2026 19:02 WIB, 23 of 50 major cryptocurrencies rose while 26 fell. EOS gained 8.13% to Rp12.649, ATOM increased 7.41% to Rp32.222 with a typical hold time of 60 days, and ONE dropped 5.50% to Rp37 with a typical hold time of 152 days.

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