Ethereum posted gains in Tuesday’s trading, rising 3% over the past 24 hours as of 1:15 p.m. Eastern Time, while Bitcoin fell 0.4% during the same period.

The rise in Ethereum today is linked to news of increased support from major investors, as BitMine Immersion Technologies announced plans to issue an additional $20 billion worth of shares, using the proceeds to purchase more Ethereum.

A New Strategy to Strengthen Crypto Asset Reserves

BitMine Immersion filed with the US Securities and Exchange Commission (SEC) to increase the total planned stock sales by $20 billion, bringing the total value to about $24.5 billion. These funds will be directed toward purchasing more Ethereum.

The company, which brought on Tom Lee from Fundstrat as Chairman at the end of June, is betting this strategy will enhance Ethereum’s position in the digital asset market.

What’s Next for Ethereum?

After a decline in valuation over the first four months of 2025, Ethereum has seen a strong upward trend in recent months, gaining nearly 26% year-to-date. Growing government and institutional support has fueled this rise, especially after the passage of the GENIUS Act regulating stablecoins—a major boost for Ethereum since many leading stablecoins are built on its network.

While investing in Ethereum remains high-risk, key fundamentals have started to shift in its favor this year.

Not Ethereum Alone – Ripple Surges After Legal Victory and Institutional Moves

Ripple’s price jumped 11% over the past 24 hours, from $2.99 to $3.30, its highest level since July 28, supported by trading volume exceeding 300 million units, with peak turnover around 21:00 UTC on Thursday.

This surge followed the official end of the US SEC’s lawsuit against Ripple Labs, as both parties agreed to drop appeals before the Second Circuit Court of Appeals, removing the legal uncertainty that has surrounded Ripple’s regulatory status since 2020. Investors see this as opening the door to greater institutional participation, particularly in the United States.

From a technical perspective, analysis points to a bullish bias, with a flag formation pattern potentially pushing prices toward targets between $8 and $15 in the long term. A return above the $3.33 support level increases the likelihood of testing the near-historic peak around $3.60.

In derivatives, there has been strong activity in Ripple options, particularly in long straddle positions that indicate expectations of heightened volatility. Additionally, Japanese firm SBI Holdings has filed to launch an ETF including Bitcoin and Ripple, which could serve as another potential support factor.

US stock indexes rose on Wednesday as markets tracked the implications of recent trade talks and inflation data.

Government data showed that the annual growth rate of the US Consumer Price Index held steady at 2.7% in July, below expectations for a rise to 2.8%.

The core inflation index — which excludes volatile food and energy prices — rose to 3.1% in July, above expectations for a rise to 3% and compared to 2.9% in June.

According to the FedWatch tool, investors now see a 99% probability of a 25-basis-point interest rate cut in September, compared to 94% yesterday and 57% a month ago.

Analysts also expect a 61% probability of another 25-basis-point cut in October, compared to 34% a month ago, along with a 51% probability of a similar cut in December, compared to 25% a month earlier.

In trading, the Dow Jones Industrial Average rose 0.7% (315 points) to 44,777 points as of 17:30 GMT, the S&P 500 gained 0.1% (5 points) to 6,450 points, while the Nasdaq Composite added 0.1% (5 points) to 21,685 points.

Nickel prices fell on Wednesday amid a continued global supply surplus, despite the decline of the US dollar against most major currencies.

Nickel inventories on the London Metal Exchange remained within a limited range, rising by 1.5% to 212,232 tonnes, compared to 209,082 tonnes a week earlier.

This increase came despite the continued supply surplus in the market, as nickel inventories on the London Exchange have risen since the beginning of the year by about 40,000 tonnes to reach 195,000 tonnes, supported by strong refining capacity by Chinese companies in Indonesia. And despite attempts to curb supply, overall market sentiment remains cautious, with any recovery dependent on a significant improvement in final demand.

Indonesia’s nickel market faces continued surplus

Indonesia’s nickel market remains under pressure, as government-approved production quotas have exceeded actual production levels, which has boosted the supply surplus. Prices of nickel ore intended for pyrometallurgical smelting have declined, while prices of nickel ore used in hydrometallurgical smelting have remained stable.

Prices of high-grade ferronickel have also remained stable, but smelters’ profit margins have stayed narrow. Policymakers are considering possible interventions, but abundant supply and weak demand may limit price increases in the near term.

China’s nickel market remains resilient despite the surplus

Nickel and stainless steel markets in China have shown signs of resilience, despite weak overall demand and continued oversupply. The government’s policy to reduce industrial overcapacity, along with expected seasonal changes in Philippine mining, may influence supply and price trends in the coming months.

Outlook

Nickel prices recorded slight gains last week, but remained constrained by the global supply surplus, especially from Indonesia, and by cautious demand prospects. The market is monitoring US interest rate policy, Chinese stimulus measures, and seasonal changes in Indonesian supply as potential factors for any shift in nickel price momentum in the future.

On the other hand, the US dollar index fell by 0.4% to 97.7 points as of 16:44 GMT, recording a high of 98.1 points and a low of 97.6 points.

In US session trading, spot nickel fell by 0.8% to $15,100 per tonne at 16:55 GMT.

Bitcoin prices saw a modest rise on Wednesday, while Ethereum approached record highs, as the cryptocurrency market rebounded on the back of softer US consumer inflation data, which boosted bets on a September interest rate cut.

Altcoins outperformed Bitcoin on Tuesday and Wednesday, as growing risk appetite drove investors toward relatively lower-priced assets like Ether, which had lagged behind Bitcoin’s strong gains in recent months.

The world’s largest cryptocurrency rose 1.5% to $120,500 by 13:40 GMT.

Ethereum Nears All-Time High on Institutional Buying

Ethereum, the second-largest cryptocurrency, climbed to $4,680.23 this week, nearing its November 2021 record of $4,868.8. The rally was fueled largely by increased institutional and corporate buying in recent weeks, with major entities adopting strategies similar to that of MicroStrategy (NASDAQ:MSTR), the largest corporate holder of Bitcoin.

Bitmain Emergent Technologies (NYSE:BMNR), the largest institutional holder of Ether, announced Monday it now holds over 1.15 million tokens worth about $4.9 billion. The firm also unveiled plans to raise an unprecedented $24.5 billion via a stock offering, aimed primarily at purchasing more Ethereum.

In another notable move, 180 Life Sciences Corp (NASDAQ:ATNF), currently restructuring under the name Ether Treasury ETHZilla, disclosed that billionaire Peter Thiel had acquired a 7.5% stake. The announcement on Tuesday sent the company’s stock soaring more than threefold. The firm also revealed it holds around $349 million worth of Ether—82,186 tokens—bought at an average price of $3,806.71 each.

SharpLink Gaming Ltd (NASDAQ:SBET) also completed a $400 million capital raise this week, stating the funds would be fully allocated to buying more Ethereum.

This growing institutional interest has driven Ether to outperform Bitcoin in 2025 so far, with a 39.4% gain versus Bitcoin’s 27.9%.

Altcoins Outpace Bitcoin as Rate Cut Bets Rise

Broader digital asset prices rose faster than Bitcoin on Wednesday, amid increased risk appetite supported by the tame US inflation figures, which bolstered expectations of a September Fed rate cut. The rally also coincided with record highs in other risk-sensitive markets, particularly equities.

Altcoins gained additional support from mounting expectations that companies and institutions will boost their holdings of other digital tokens. XRP, the third-largest cryptocurrency, rose 3.1% to $3.2401, Cardano jumped 8.9%, and Solana surged 13%.

How Institutional Moves Could Shape Bitcoin’s Future

The emergence of spot Bitcoin ETFs marks a significant shift in the market, opening the door to large-scale institutional capital inflows. Giants like BlackRock and Fidelity have ramped up their participation, with analysts noting that such liquidity not only fuels market optimism but also encourages traders to buy at higher price levels. Historically, Bitcoin has thrived in periods of strong institutional backing, acting as a powerful catalyst for price appreciation.

Macro Factors Driving Bitcoin Higher

As Bitcoin edges toward key price levels, broader macroeconomic factors are seen as pivotal in determining its path. Market speculation is centering on a potential Fed rate cut—an event that could spark a push to new record highs. Lower interest rates typically increase demand for high-yielding assets, putting Bitcoin in a favorable position.

The Critical $140K Level

Traders are now watching the psychological $140,000 mark closely, with technical indicators such as a bullish MACD crossover and strong RSI support reinforcing the bullish outlook. A breakout above this level could trigger a wave of FOMO (fear of missing out) among both retail and institutional investors, potentially driving prices sharply higher in a short span.