Ethereum price was down more than 7% as bears broke below $3,000 to touch $2,940. As sell-off pressure mounts, bears could eye lows of $2,300. BitMine continues to buy ETH, with analysts indicating dips are for buying. Ethereum price is down 7% in the past 24 hours and looks poised for fresh losses as bulls retreat sharply amid renewed selling pressure. This comes as ETH prices dip below the psychological $3,000 level for the first time in months. Notably, the breakdown arrives amid broader market weakness, with Bitcoin extending its rot to hit lows of $89,500. Macro jitters, persistent exchange-traded funds outflows, and signs of capitulation are fueling concerns that the path of least resistance remains lower for BTC, ETH, and the broader crypto market. Ethereum price dips below $3,000 On Tuesday, the ETH price breached the $3,000 mark, trading as low as $2,940. The downturn sees bears extend the downtrend that has seen Ethereum shed more than 7% in the past 24 hours, and 16% from its weekly highs above $3,200. Despite notable accumulation by BitMine, downside momentum has overwhelmed buying interest and ETH risks fresh losses. At the time of writing, the Ethereum price hovered near $2,979, with the top altcoin down sharply as Bitcoin plunged under $90,000. Per CoinMarketCap data, BTC fell to lows of $89,500 across major exchanges, with both coins’ dips coming amid notable buying by Strategy. BitMine disclosed it had acquired an additional 54, 156 ETH over the past seven days, a move that pushed the publicly-traded company’s total holdings to 3. 56 million ETH. Ethereum price forecast While the aggressive buying has failed to stem price declines, bulls remain upbeat long-term. “Crypto prices have not recovered since the liquidation event on Oct 10th. And the lingering weakness has the hallmarks of a market maker (or two) suffering from a crippled balance sheet,” said Thomas “Tom” Lee of Fundstrat, Chairman of BitMine. Lee added: “When a market maker has a ‘hole’ on their balance sheet, they are seeking to raise capital and are reducing their liquidity functions in the market. This is the equivalent of QT (quantitative tightening) for crypto and has the effect of dampening prices. In 2022, this QT effect lasted for 6-8 weeks. And this is probably happening today.” Sell-off pressure is up amid continued outflows from US spot Ethereum ETFs. Technical indicators also paint a decidedly bearish picture, with the daily RSI slipping and the MACD histogram in negative territory. Meanwhile, more than $175 million in ETH liquidations have occurred in the past 24 hours. Coinglass data shows that over $136 million of these are long positions. The breach of $3,000 could thus clear the way for a retest of new multi-month lows. ETH could bounce off the $2,800 region, but weakness would allow bears to target the $2,300-$2,228 region. On the upside, Ethereum bulls face an uphill battle in the near term with major resistance around $3,300.
https://bitcoinethereumnews.com/ethereum/ethereum-price-outlook-bears-pierce-3000-as-sell-off-pressure-mounts/
Tag Archives: publicly-traded
Nuclear power will get the most Energy Department loans, Chris Wright says
Nuclear Power to Receive Majority of Energy Department Loan Funds as Trump Administration Accelerates New Reactor Projects
Nuclear power is set to receive most of the funding from the Energy Department’s loan office as the Trump administration pushes to rapidly initiate construction on new reactors, Energy Secretary Chris Wright announced on Monday.
“We have significant lending authority at the loan program office,” said Secretary Wright during a conference hosted by the American Nuclear Society in Washington, D.C. “By far the biggest use of those dollars will be for nuclear power plants to get those first plants built.”
In May, President Trump signed an executive order directing the U.S. to break ground on 10 large nuclear reactors by 2030, signaling a strong government commitment to expanding nuclear energy capacity.
Private Sector Investments Fueling Nuclear Expansion
Major technology companies including Alphabet, Amazon, Meta Platforms, and Microsoft are investing billions of dollars to restart old nuclear plants, upgrade existing facilities, and deploy new reactor technologies to meet the rising electricity demands from artificial intelligence (AI) data centers.
Wright highlighted the growing role of AI-driven electricity needs in attracting capital. “I expect electricity demand from AI to attract billions of dollars in equity capital to build new nuclear capacity from very creditworthy providers,” he said.
The Energy Department is prepared to match private investments with low-cost debt financing from its loan office, potentially leveraging private funds by as much as four to one.
Looking towards the future, Wright expressed optimism: “When we leave office three years and three months from now, I want to see hopefully dozens of nuclear plants under construction.”
Westinghouse Deal Paves the Way for Major Nuclear Projects
Last month, the Trump administration finalized a deal with Westinghouse’s owners to invest $80 billion in constructing nuclear plants across the United States.
Westinghouse, owned by uranium miner Cameco and Brookfield Asset Management, has developed the AP1000 reactor — a modern design capable of powering more than 750,000 homes.
In July, Westinghouse CEO Dan Sumner affirmed the company’s commitment to President Trump’s goal, stating they would meet the call to build large new plants using the AP1000 design.
Cameco’s Chief Operating Officer Grant Isaac also noted during Cameco’s third-quarter earnings call that the U.S. government has various financing options available to support Westinghouse reactor projects, including the Energy Department’s loan office.
“We’re assured that there is a lot of interest in investing this minimum $80 billion in order to begin the process,” Isaac told investors.
Potential Public Offering and Past Challenges
Under the terms of the October agreement, Westinghouse could spin off as a separate publicly-traded company, with the U.S. government as a shareholder.
However, the company has faced challenges in the past. Westinghouse went bankrupt in 2017 due to cost overruns on major nuclear projects in Georgia and South Carolina.
Two AP1000 reactors began service at Plant Vogtle in Georgia in 2023 and 2024, but these projects were completed years behind schedule and billions of dollars over budget. Meanwhile, the South Carolina project was ultimately cancelled.
Despite these hurdles, the recent government backing and private sector investment signal renewed momentum for nuclear power in the U.S., aiming to meet future energy demands and strategic goals.
https://www.cnbc.com/2025/11/10/nuclear-power-energy-department-chris-wright-loan-westinghouse-ai-data-center.html
VGT And XLK: Time To Cut Exposure To These Large ETFs
**Vanguard Information Technology ETF and Technology Select Sector SPDR Fund: Evaluating Risk and Opportunity**
The Vanguard Information Technology ETF (VGT) and the Technology Select Sector SPDR Fund (XLK) have seen significant price appreciation recently. However, both ETFs are highly concentrated in a small number of mega-cap technology stocks, which exposes them to unique risks.
### Risks Facing VGT and XLK
Key concerns for these tech-focused ETFs include:
– **High Valuations:** Many holdings are trading at elevated multiples, increasing the risk of sharp corrections if growth expectations are not met.
– **Economic Headwinds:** Ongoing challenges such as inflationary pressures, supply chain disruptions, and potential interest rate hikes could negatively affect tech sector performance.
– **AI-Driven Rally Vulnerability:** The recent surge driven by artificial intelligence enthusiasm may face reversals, potentially resulting in significant pullbacks.
Given these factors, investors should approach concentrated tech ETFs like VGT and XLK with caution.
### Portfolio Recommendations
To better manage risk and optimize potential returns, investors might consider:
– **Reducing Exposure:** Scaling back allocations to highly concentrated tech ETFs.
– **Rebalancing Portfolios:** Increasing holdings in the broader S&P 500 index and small-cap value funds, which may offer more attractive risk-reward profiles in the current market environment.
– **Considering Alternatives:** Cash and Treasury Inflation-Protected Securities (TIPS) present appealing options amid uncertainty.
– **Favoring Diversification and Defensive Strategies:** More diversified or defensive equity approaches can help mitigate volatility associated with concentrated tech exposure.
### About the Vanguard Information Technology ETF (VGT)
VGT is a large, well-managed ETF run by a highly regarded provider and has experienced robust price appreciation. While it offers exposure to leading technology companies, its concentration risk and valuation concerns warrant careful consideration.
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**About the Author**
Alan Brochstein, CFA, is one of the first investment professionals to focus exclusively on the cannabis industry. He began his career in the securities industry in 1986, managing institutional investments until founding AB Analytical Services in 2007 to provide independent consulting to registered investment advisors.
Alan is also the managing partner of New Cannabis Ventures, a leading provider of financial news in the cannabis sector since 2015, and he leads the investing group 420 Investor — a community focused on publicly traded cannabis stocks, which he moved to Seeking Alpha in 2023. Since 2013, he has provided in-depth coverage of about 20 cannabis stocks, including earnings previews, analyses, a model portfolio, frequent video content, newsletters, and interactive chat support for investors.
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**Analyst’s Disclosure:**
I/we have no stock, option, or similar derivative position in any of the companies mentioned and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
**Seeking Alpha’s Disclosure:**
Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Views expressed may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker, US investment adviser, or investment bank. Our analysts are third-party authors who may not be licensed or certified by any regulatory body.
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https://seekingalpha.com/article/4841124-vgt-and-xlk-time-to-cut-exposure-to-these-large-etfs?source=feed_all_articles