4 Minutes
Tom Lee Predicts Ether Bottom Amid Broad Crypto Sell-Off
Fundstrat Global Advisors managing partner Tom Lee signaled that Ether (ETH) could reach a near-term bottom "in the next few hours" as markets experienced a large liquidation event. Lee’s call came during a sharp market downturn that saw Bitcoin (BTC) drop to a seven-week low and prompted heavy selling across the crypto market.
Market context and Lee’s call
Lee published his prediction on X in the early hours of Tuesday (1:00 UTC), noting that Ether’s downside may be limited and a recovery could begin shortly. At the same time, Mark Newton, Fundstrat’s managing director of technical strategy, framed ETH as an attractive risk/reward at current levels and said he was "highly skeptical" that Ether would break its existing trend or revisit last week’s lows.
Newton outlined a technical path that would see ETH bottom near $4,300 within about 12 hours and then attempt to rebound toward fresh highs in the $5,100–$5,450 zone if momentum returns. By the time of writing, Ether had started to recover and was trading back above $4,430, suggesting a swift bounce after the intraday slide.
How big was the drop?
During the sell-off, Ether fell more than 7% intraday and briefly touched $4,313 on Coinbase, according to TradingView. From its all-time high, ETH is down roughly 11% as the crypto market digested margin liquidations and broader risk-off flows driven by Bitcoin’s weakness.
BitMine doubles down: buys 4,871 ETH on the dip
While commentators debated whether the bottom was in, BitMine Immersion Technologies continued to accumulate Ether. Arkham Intelligence reported that BitMine purchased an additional 4,871 ETH—roughly $21.3 million at the time—bringing its total corporate holdings to approximately 1.72 million ETH, valued near $7.5 billion at prevailing market prices.
BitMine has been aggressively increasing its crypto and cash reserves. The company disclosed a substantial rise in net asset value (NAV), reporting combined crypto and cash holdings of $8.8 billion after adding more than 190,500 tokens over a recent week. Its crypto-plus-cash NAV per fully diluted share climbed to $39.84, up from $22.84 in late July, based on 221.5 million fully diluted shares outstanding.
BitMine’s position among corporate ETH treasuries
According to on-chain analytics from StrategyEthReserve, BitMine controls roughly 40% of the 4.3 million ETH held by corporate treasuries, making it the largest single corporate holder of Ether. That concentration highlights a continuing trend: companies and institutional treasuries are using market dips to accumulate long-term crypto exposure.
What this means for traders and institutional investors
Lee’s bottom call and BitMine’s buy-the-dip activity are signals that both macro strategists and corporate treasuries are viewing current levels as buying opportunities. For traders, these developments suggest elevated volatility but also potential for quick rebounds in ETH price if demand from large holders persists. For institutional investors, the narrative underscores continued corporate allocation to crypto as part of diversified treasuries and balance-sheet strategies.
MicroStrategy, another major corporate buyer, also added to its crypto holdings during the same dip, scooping up more Bitcoin—demonstrating that both BTC and ETH remain central to corporate crypto treasury strategies.
Takeaways
- Tom Lee and Fundstrat’s technical team consider ETH to have favorable risk/reward near current levels, with a possible short-term bottom and targets above $5,100 if momentum returns.
- BitMine purchased 4,871 ETH on the dip, bringing its corporate treasury to about 1.72 million ETH (~$7.5B).
- Corporate accumulation continues to shape market dynamics for Ethereum and Bitcoin, especially during flash sell-offs.
This combination of strategic corporate buying and bullish technical views from well-known analysts could support a quicker recovery for Ether if market liquidity and risk appetite stabilize.
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