Ether pullback was ‘attractive opportunity’ for 71,672 ETH buy: Bitmine’s Lee
Bitmine chairman Tom Lee says the crypto treasury firm acquired 71,672 ETH during the recent price pullback below $2,200, viewing it as an attractive buying opportunity. Bitmine holds over 5.2 million ETH and targets 5% of circulating supply by end-2026. Lee attributes ETH's 57% decline from August peaks to elevated oil prices amid Middle East tensions, predicting recovery if oil reverses.
Key takeaways
- 1Bitmine acquired 71,672 ETH below $2,200, targeting 5% of circulating supply by end-2026 with current holdings exceeding 5.2 million ETH.
- 2Ether has declined 57% from August 2025 ATH of $4,946 to current levels around $2,128, primarily due to elevated oil prices from Middle East tensions.
- 3Analyst predictions for ETH by year-end range from $1,500 (48% probability) to $7,500, with potential recovery if oil prices reverse.
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Why it matters
Major institutional accumulation during downturns signals confidence in Ethereum's long-term value, while geopolitical oil price impacts highlight macro risks affecting crypto markets. For Indian investors, this reflects how global macroeconomic factors and institutional positioning influence ETH price movements and entry opportunities.
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