BitMine Stock Forecast: Ethereum ETF Outflows Put BMNR Under Pressure

Key Insights BitMine stock remains under pressure because of the ongoing ETH retreat. Spot Ethereum ETF outflows have jumped to $1.3 billion this month. Technical analysis suggests that the stock may drop to $20. BitMine stock remained under pressure as Ethereum ETF withdrawals continued and ETH traded near $2,300. BMNR closed at $22.05 on Oct. 28, down substantially from its reported September peak. The decline increased attention on BitMine’s cryptocurrency treasury and staking revenue. Meanwhile, technical indicators raised the possibility of another retreat toward $20.