cryptoinsightx

The cryptocurrency market faced a sharp correction on Tuesday, wiping out nearly $200 billion in market capitalization as both Bitcoin (BTC) 🟠 and Ether (ETH ⚡) plunged to multi-week lows. Amid the sell-off, prominent market analyst Tom Lee, Managing Partner at Fundstrat Global Advisors, predicted that Ether is approaching its bottom and could soon rebound.
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📉 Bitcoin and Ether Face Steep Decline

Bitcoin 🟠, the largest cryptocurrency, dropped to a seven-week low of $109,969, triggering panic across the broader crypto market.
Ether ⚡ followed the decline, sliding more than 7% to $4,313 on Coinbase before recovering above $4,430 at the time of writing.

This sudden drop led to massive liquidations across exchanges, but some institutional players 🏦 took the opportunity to increase their holdings.
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💰 BitMine Purchases 4,871 ETH Amid the Dip

During the plunge, BitMine, an ETH treasury firm co-founded by Tom Lee, purchased an additional 4,871 ETH ⚡ worth approximately $21 million 💵.

With this acquisition, BitMine’s total Ether holdings rose to 1.72 million ETH ⚡.

The move demonstrates strong conviction in Ether’s long-term potential despite short-term volatility.
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📢 Tom Lee’s Bottom Call

At 1 AM UTC, Tom Lee posted on X 🐦 (formerly Twitter):

> “Calling ETH bottom to happen in next few hours.”

His statement came as market sentiment turned fearful 😨 following the sell-off.
Lee’s confidence was further supported by his colleague Mark Newton, Managing Director of Technical Strategy at Fundstrat.
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📊 Technical Analysis by Fundstrat

Newton emphasized that Ether currently represents a strong risk/reward opportunity ⚡📈:

He expressed skepticism that ETH would break below last week’s low or violate its long-term trend.

Newton predicted Ether would bottom out near $4,300 💵 within 12 hours.

Following the bottom, he expects ETH to push higher, first breaking $5,100 and then rallying toward $5,400–$5,450 💹.
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🔎 Market Implications

Lee’s call and BitMine’s large-scale purchase 🏦💰 highlight growing institutional confidence in Ethereum’s fundamentals.

If Newton’s analysis holds true, the recent dip could mark the beginning of a strong recovery phase ⚡📈 for Ether, potentially pushing it to fresh highs in the coming weeks.

This development underscores a broader trend: while retail traders panic 😱 during sharp market downturns, institutional investors 🏦 often use s
uch opportunities to accumulate assets at discounted prices 💵.
#ETH #Ethereum #Cryptoinsightx
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