Meanwhile, as Bitcoin and Ethereum have retraced slightly from monthly highs, Bitmine, one of the key players in digital assets, released its financial results for the past quarter, showing a loss of $3.82 billion. Over a six-month period, the loss has already exceeded $9 billion.

The main reason for this financial outcome was a sharp decline in the price of Ethereum, which had a direct negative impact on the company's assets. However, despite the negative trend in financials, Bitmine is actively increasing its footprint in the Ethereum market. According to the latest data, the company's share of total ETH volume has already reached 4 percent. At the same time, the company is demonstrating steady revenue growth. Bitmine's revenue rose to $11 million, and this increase is almost entirely driven by activity in Ethereum staking.

Bitmine's strategy, aimed at increasing its share in Ethereum and actively using staking instruments, allows the company to partially offset losses from the asset's price decline. Staking, as the process of earning passive income from holding cryptocurrency, is becoming an increasingly significant source of profit for the company. This indicates a long-term strategy by Bitmine to diversify revenue streams and minimize risks associated with market volatility.

Notably, the growth in staking revenue is occurring against the backdrop of an overall decline in the price of Ethereum, which underscores the effectiveness of this business model. This shows that Bitmine is demonstrating an ability to adapt to changing market conditions by leveraging new opportunities to generate profit.

Trading recommendations:

Regarding Bitcoin's technical picture, buyers are currently targeting a return to the $74,600 level, which would open a direct path to $76,600, and from there the market would be within reach of $78,400. The most distant target is the high near $80,100, a breach of which would signal attempts to restore a bull market. In the event of a drop, I expect buyers at $73,000. A return of the instrument below that area could quickly push BTC toward $71,400. The furthest downside target would be the $69,800 area.

Regarding Ethereum's technical picture, a clear hold above $2,410 would open a direct path to $2,499. The most distant target is the high near $2,585, a breach of which would indicate strengthening bullish sentiment and a return of buyer interest. In the event of a fall, I expect buyers at $2,308. A return of the instrument below that area could quickly push ETH toward $2,244. The furthest downside target would be the $2,162 area.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

A crossover, or a price test of moving averages, typically either halts the move or sparks fresh market momentum.