Ethereum's price is nearing a critical level of $3,949, which aligns with Bitmine's average cost basis for its substantial holdings. Bitmine, a Nasdaq-listed firm, possesses 2.151 million ETH, valued at around $9 billion. Despite the potential price drop, Bitmine has indicated no immediate plans to liquidate its Ethereum assets, underscoring a commitment to a long-term investment strategy. The $3,949 price point could serve as a psychological support level for the market.