Ethereum has been under pressure for weeks. The price has repeatedly dropped below $3,000 and has yet to mount a convincing recovery. However, analyst and investor Tom Lee believes the market has already reached its bottom. According to him, current prices are attractive for those with a long-term perspective.
Lee Says Ethereum Has Found Its Bottom #
Tom Lee is the Chairman of BitMine, a company focused on efficient crypto mining, and the CIO of Fundstrat, a research and advisory firm for both institutional and private investors. In an interview, he stated that ethereum has “reached its price bottom for the year.”
That statement comes as the price is moving between $3,100 and $3,200 and volatility remains high. For Lee, this is no reason for doubt. He points out that his company has added a significant amount of ether to its corporate balance sheet in the recent period.
He also mentioned that BitMine recently doubled its purchasing pace and will stake more than 3.7 million ethereum within its own infrastructure. He calls the current market a phase where “accumulation is happening despite the declines,” something that has often had a stabilizing effect in the past.
“Future Options at a Discount” #
In the interview, Lee explained why he remains optimistic. In his view, the current levels offer “future options at a discount.” In other words: those who buy now are paying a lower price for opportunities that may arise in the longer term. This sentiment aligns with Lee’s broader vision, who has been positive about the structural growth of ethereum for some time.
He points to the increase in DeFi activities and new applications related to artificial intelligence. According to Lee, these trends strengthen the demand for Ethereum as a network, even when the price temporarily lags. For him, such fundamentals make the recent corrections less important. They should primarily provide buying opportunities for parties that look further ahead.
Market Remains Cautious Despite Institutional Demand #
Nevertheless, the reality is that the ethereum price is technically struggling, as is the rest of the crypto market. Analysts note that the market is having trouble breaking out of a downward channel. Volumes are fluctuating and sentiment swings from week to week. But according to Lee, this is not an obstacle: periods of uncertainty create space for larger players to build positions.
Whether the bottom is truly in will become clear in the coming weeks, but according to one analyst, an important boundary has been broken, leaving room for a further rise.