Tom Lee Calls Ether Bottom as BitMine Buys $21M ETH in Market Dip

Fundstrat Global Advisors managing partner Tom Lee predicted early Tuesday that Ether had reached its bottom, even as the broader crypto market suffered a sharp ￰0￱ call coincided with a fresh $21 million purchase of Ether by BitMine Immersion Technologies, further solidifying its position as the largest Ether treasury ￰1￱ on X earlier today, Lee said , “Calling ETH bottom to happen in the next few hours,” as crypto markets faced a $200 billion liquidation ￰2￱ the time, Ether had fallen more than 7%, touching $4,313 before quickly rebounding to trade above $4,430. Lee Predicts ETH Recovery Lee’s optimism was echoed by Mark Newton, managing director of technical strategy at ￰3￱ described Ether as offering a “very good risk/reward” setup and expressed doubt that the asset would break below recent support ￰4￱ forecasted a potential rebound toward new highs, expecting ETH to climb above $5,100 and possibly reach the $5,400–$5,450 range in the near ￰5￱ downturn was largely triggered by Bitcoin’s slide to a seven-week low, dragging the wider crypto market into the ￰6￱ this, analysts such as Lee and Newton view the dip as a strategic accumulation opportunity for ￰7￱ Expands Ether Holdings Amid the volatility, BitMine Immersion Technologies seized the opportunity to buy the ￰8￱ from Arkham Intelligence shows the firm purchased 4,871 ETH on Tuesday, valued at approximately $21.3 ￰9￱ brings BitMine’s total Ether holdings to 1.72 million ETH , worth around $7.5 billion at current market ￰10￱ firm has been on an aggressive accumulation ￰11￱ a day earlier, BitMine reported a $2.2 billion increase in its combined crypto and cash holdings, lifting its net asset value per share to $39.84 from $22.84 in late ￰12￱ 221.5 million fully diluted shares outstanding, Bitmine has become the dominant corporate Ether ￰13￱ buying spree mirrors activity from other major ￰14￱ Monday, Michael Saylor’s Strategy purchased 3,081 BTC worth $357 million at an average price of $115,829 per coin, reaffirming its commitment to Bitcoin accumulation despite ongoing market ￰15￱ now, traders will be watching closely to see if Lee’s bottom call for Ether holds, as institutional demand continues to shape the trajectory of digital asset markets.