Tom Lee "Crypto Winter is Over"... Declares 'Reversal' Amidst Massive Ethereum Accumulation

▲ Crypto Winter/AI generated image

Tom Lee of BitMine, who has been massively accumulating Ethereum, stated his judgment that the current cryptocurrency market has entered the final stage of the so-called 'crypto winter,' emphasizing the possibility of a market rebound.

According to a BeInCrypto report on the 21st (local time), BitMine recently purchased over 100,000 additional Ethereum (ETH), marking its largest weekly acquisition this year. With this purchase, the company's total Ethereum holdings expanded to approximately 4.97 million units, and its total asset value, including cryptocurrencies and cash, reached approximately 12.9 billion dollars.

Along with this aggressive accumulation, Tom Lee characterized the current market situation as “the final stage of a mini crypto winter.” He cited past market patterns, explaining that cryptocurrency bear markets generally coincided with periods when the stock market fell by more than 20%.

However, the analysis suggests that the recent market environment is different from the past. In 2025, the S&P index fell by approximately 20%, showing a trend similar to cryptocurrency corrections, but by 2026, the stock market decline was limited to about 8%, indicating a lack of macroscopic shock sufficient to sustain a long-term bear market.

Concurrently, on-chain indicators are also sending positive signals. The amount of Ethereum held on exchanges has decreased to approximately 14.6 million units, marking the lowest level since 2016, which means that the amount of readily available Ethereum for sale in the market is decreasing.

Based on these trends, Tom Lee predicted that the recovery of the cryptocurrency market could be faster than market expectations. He drew a line against the long-term stagnation forecasts, which some suggest will last until the second half of 2026, emphasizing that the current correction phase is highly likely to end within a relatively short period.

However, it was also pointed out that the market's direction still depends on the sustainability of demand and changes in the macroeconomic environment. While a rebound trend could be strengthened if large-scale institutional buying and improved on-chain indicators continue, the possibility of increased volatility due to external variables cannot be ruled out.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*