Ethereum Price Eyes $7,000 by Q4 as Bitmine Accumulates $281M ETH — Will History Repeat Itself?

The Ethereum price has risen 2.74% in the past 24 hours to trade at $3,892.28. A market analyst believes Ethereum is mirroring a previous rally that led to massive gains earlier this year. At the same time, institutional interest continues to grow as whales and asset managers expand their exposure to ETH. Bitmine has notably added a significant amount of ETH to its treasury, strengthening accumulation signals. 

Ethereum Price Action: Chart Mirrors Mid-Year Breakout Structure

The Ethereum price is replicating a similar structure to the mid-year rally that began in July. Back then, ETH broke out of its accumulation zone on July 9 and rallied by 83%, peaking near $4,960 in late August. 

The current chart shows another accumulation phase forming between $3,600 and $4,200, reflecting the same consolidation pattern that preceded the earlier breakout. Notably, both setups feature a fakeout above the accumulation zone, which was followed by a strong rebound leading to a sustained rally. 

Analyst Ash Crypto emphasized that this recurring setup could once again trigger a sharp upward move, potentially propelling ETH price above $5,000 before targeting $7,000 by Q4. The pattern reflects renewed buying activity among large holders, reinforcing the possibility of another parabolic advance. 

In the context of a long-term Ethereum price prediction, maintaining strength above $4,200 would confirm the breakout structure and sustain the bullish outlook. However, a dip below $3,600 could briefly stall the rally before recovery resumes.

Bitmine’s ETH Treasury Expansion Boosts Confidence

Large investors have intensified accumulation, reinforcing bullish conviction for Ethereum price growth in the coming months. Lookonchain reported that Bitmine recently expanded its ETH treasury through multiple wallet transactions linked to FalconX and BitGo. 

This follows a prior large-scale purchase in which Bitmine added over $417 million worth of ETH to its holdings, marking one of its biggest accumulation phases this year. The trend mirrors a broader institutional shift after BlackRock reportedly sold Bitcoin and accumulated 12,098 ETH from Coinbase Prime. 

These moves highlight rising confidence in Ethereum’s ecosystem and its long-term potential as a preferred institutional asset. Notably, such large acquisitions often precede strong price expansions as exchange supply continues to tighten. 

Meanwhile, the network’s consistent activity further supports this accumulation phase. Together, these factors strengthen the technical and fundamental case for an end-of-year rally.

To sum up, Ethereum appears well-positioned for another strong advance if the breakout pattern holds. Institutional and whale accumulation are reinforcing the bullish framework shaping across charts. The ETH price could approach $7,000 if current structures remain intact through Q4. Altogether, Ethereum’s renewed buying interest signals that bullish control is firmly reestablishing itself.