Citigroup’s 540% BitMine Bet Faces Breakdown Risk

BitMine’s stock has shown early signs of recovery, rising 6% on Feb. 13 and 7.32% over the past five days, even as Ethereum — which BitMine closely tracks — fell 3.3% over the same week. The divergence suggests the stock may be trying to catch up, but the rebound looks fragile.

Price action is trading inside a bear flag that formed after a nearly 60% decline between Dec. 10, 2025, and Feb. 5, 2026. Since Feb. 5 the stock has rebounded about 26%, creating the flag portion of the pattern; however, the bearish structure remains active and the next few sessions could determine whether the recovery continues or another drop begins.

Momentum indicators add to the caution. An earlier hidden bearish divergence between Nov. 18, 2025, and Feb. 9, 2026 — where price made a lower high while RSI made a higher high — preceded a more than 14% decline. RSI is rising again while the price sits below resistance near $21.57, and a failure to clear that level would raise the odds of a renewed bearish divergence and a flag breakdown.

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