$ETH $BMNR $BMNU health check:
ETH is around $1.75K after the post-Fed wobble.
The Fed held rates, but Warsh’s first meeting leaned hawkish.
That matters because crypto does not just need good narratives.
It needs liquidity.
For
$ETH, the levels are simple:
Hold $1,700-$1,750 = setup alive
Reclaim $1,800 = momentum improves
Reclaim $1,900-$2,000 = recovery narrative wakes up
Lose $1,700 and $1,600 comes back into play.
Now
$BMNR:
Latest official numbers:
5,620,754 ETH
4.66% of ETH supply
93% of the way to 5%
$502M cash
4,718,677 ETH staked
The 5% target is about 6.035M ETH.
That means BMNR is roughly 414K ETH away.
At today’s ETH price, that gap is around $725M.
With over $500M cash, BMNR has a real shot to close most of that gap if Tom Lee keeps pressing.
That is why I’m not just watching the daily candle.
I’m watching:
ETH per share
5% supply target
staking yield
NAV discipline
Russell reconstitution
ETH ETF flows
CLARITY Act progress
For
$BMNU, the rule is harsher.
It does not just need BMNR to bounce.
It needs BMNR to trend cleanly.
Chop destroys leveraged ETFs.
Simple read:
$ETH needs $2K.
$BMNR needs 5%.
$BMNU needs both, with momentum and no chop.
Today’s market is not easy.
But if ETH reclaims $2K and BMNR hits 5%, the trade starts looking very different.