Tom Lee, chairman of Bitmain (BMNR), diagnosed that the cryptocurrency market has entered the early stages of a new bullish cycle. Regarding the CLARITY Act compromise recently unveiled by the Senate, he stated, "It generally contains acceptable provisions, prohibiting interest payments on reserves while allowing activity-based compensation," adding that its passage probability by 2026, according to Polymarket, has exceeded 60%, reaching its highest point in over a month. He further added, "Although investor sentiment remains weak, price trends are turning bullish, similar to the early stages of past cycles. Regardless of the CLARITY Act's passage, current market trends support the arrival of a crypto spring (recovery)." Regarding ETH, he explained, "Both Wall Street's tokenization trend and the demand for blockchain related to agentic AI are acting as tailwinds for ETH. Since the start of the Iran war, it has outperformed the S&P500 by over 1380bp, ranking among the world's top-performing asset classes alongside crude oil, and has established itself as a store of value and a medium of exchange."
