Tom Lee has reiterated one of the most aggressive Ethereum targets in the market, telling attendees at Binance Blockchain Week on 4 December that ETH could eventually trade at $62,000 as it becomes the core infrastructure for tokenized finance.

“Okay, so let me explain to you why Ethereum, now that we’ve talked about crypto, […] is the future of finance,” Lee said on stage. He framed 2025 as Ethereum’s “1971 moment,” drawing a direct analogy to when the US dollar left the gold standard and triggered a wave of financial innovation.

Lee’s Thesis For Ethereum

“In 1971, the dollar went off the gold standard. And in 1971, it galvanized Wall Street to create financial products to make sure the dollar would be the reserve currency,” Lee argued. “Well, in 2025, we’re tokenizing everything. So it’s not just the dollar that’s getting tokenized, but it’s stocks, bonds, real estate.”

In his view, this shift positions ETH as the primary settlement and execution layer for tokenized assets. “Wall Street is, again, going to take advantage of that and create products onto a smart contract platform. And where they’re building this is on Ethereum,” he said. Lee pointed to current real-world asset experiments as early evidence, noting that “the majority of this, the vast majority, is being built on Ethereum,” and adding that “Ethereum has won the smart contract war.”

Lee also stressed that ETH’s market behavior has not yet reflected that structural role. “As you know, ETH has been range bound for five years, as I’ve shaded here. But it’s begun to break out,” he told the audience, explaining why he “got very involved with Ethereum by turning Bitmine into an ETH treasury company, because we saw this breakout coming.”

The core of his valuation case is expressed through the ETH/BTC ratio. Lee expects Bitcoin to move sharply higher in the near term: “I think Bitcoin is going to get to $250,000 within a few months.” From there, he derives two key ETH scenarios.

First, if the ETH/BTC price relationship simply reverts to its historical mean, he sees substantial upside. “If ETH price ratio to Bitcoin gets back to its eight year average, that’s $12,000 for Ethereum,” he said. Second, in a more aggressive case where ETH appreciates to a quarter of Bitcoin’s price, his long-standing $62,000 target emerges: “If it gets to 0.25 relative to Bitcoin, that’s $62,000.”

TOM LEE CALLS FOR $62,000 $ETH

“I think Ethereum’s going to become the future of finance, the payment rails of the future and if it gets to .25 relative to Bitcoin that’s $62,000. Ethereum at $3,000 is grossly undervalued.” pic.twitter.com/VydvLou9IE

— CryptosRus (@CryptosR_Us) December 4, 2025

Lee links these ratios directly to the tokenization narrative. “If 2026 is about tokenization, that means Ether’s utility value should be rising. Therefore, you should watch this ratio,” he told the crowd, arguing that valuation should track growing demand for ETH blockspace and its role as “the payment rails of the future.”

He concluded with a pointed assessment of current levels: “I think Ethereum at $3,000, of course, is grossly undervalued.”

At press time, ETH traded at $3,128.

BitMine, the Ethereum-focused treasury firm led by Tom Lee, has added another $150 million worth of Ether to its balance sheet, according to on-chain data shared Wednesday by Arkham.

The data shows the company received 18,345 ETH via BitGo and a further 30,278 ETH through Kraken, pointing to one of the largest single inflows into a corporate Ethereum treasury this year.

BitMine has not yet issued a formal confirmation of the transfers, though the wallet movements align with its recent buying pattern.

BitMine Builds 3% Stake in Ethereum as It Targets 5% Supply

The firm has steadily built its Ether position throughout 2025, even during November’s market pullback.

In the final week of last month alone, BitMine snapped up 96,798 ETH, lifting its holdings to more than 3% of Ethereum’s circulating supply.

Management has previously said it aims to ultimately control around 5% of all ETH, framing Ether not just as a store of value but as core infrastructure for financial markets.

TOM LEE JUST BOUGHT $150M ETH

Two fresh wallets just withdrew $92M of ETH from Kraken, and $58M from Bitgo, matching prior Bitmine purchase patterns.

Tom Lee is DCAing ETH. pic.twitter.com/uZxEnhVvzi

— Arkham (@arkham) December 3, 2025

The aggressive strategy stands out at a time when other digital asset treasuries are easing off.

Figures from Bitwise show companies bought about 370,000 ETH in November, an 81% drop from August’s peak of 1.97 million ETH.

Lee said in a Dec. 1 disclosure that several near-term developments are shaping his outlook, including Ethereum’s Fusaka upgrade and expectations that the Federal Reserve will bring its balance-sheet reduction program to an end.

Last month, Lee said Ether may be entering the early stages of the type of explosive growth cycle that propelled Bitcoin to a 100x rally since 2017.

Lee said the current Ether market resembles Bitcoin’s setup eight years ago, a period marked by deep volatility that ultimately preceded one of the strongest bull cycles in crypto history.

Lee noted that his firm first recommended Bitcoin to Fundstrat clients in 2017 when BTC traded near $1,000.

Since then, Bitcoin suffered several drawdowns of up to 75%, yet still surged more than 100-fold from that initial call.

“We believe ETH is embarking on that same Supercycle,” he wrote, arguing that Ether’s recent weakness reflects doubt, not deterioration.

BitMine Names New CEO Amid Leadership Shakeup

BitMine has also appointed a new chief executive as the company continues to build one of the largest Ether treasuries among publicly traded firms.

Last month, the company said Chi Tsang will replace Jonathan Bates as CEO, with the transition taking effect immediately.

“With its substantial Ethereum holdings and credibility with both Wall Street and the Ethereum ecosystem, BitMine is positioned to become a leading financial institution,” he said.

Alongside the leadership change, BitMine appointed three new independent board members.

The post BitMine Adds $150M in Ether to Treasury in Fresh Accumulation Push appeared first on Cryptonews.

Ethereum has reclaimed the $3,000 level after a strong market reaction to improving macro conditions, offering investors a much-needed shift in momentum. The move comes just days after the Federal Reserve officially ended Quantitative Tightening (QT), a policy shift that immediately boosted liquidity expectations across all risk assets. With markets now pricing in an imminent interest rate cut, confidence has begun to return, and ETH is one of the first major assets to respond.

This rebound reflects more than just macro relief. According to data from Arkham, shared by Lookonchain, Bitmine continues to accumulate Ethereum at current prices, reinforcing bullish sentiment at a moment when many traders remain cautious. Bitmine’s persistent buying throughout the correction has become one of the most influential signals for on-chain analysts, suggesting that large players see long-term value even as the market wrestles with volatility.

Reclaiming $3,000 places Ethereum back above a key psychological level, and the combination of supportive macro policy and whale accumulation provides a stronger foundation than the market had just weeks ago.

Bitmine and Linked Wallets Expand Ethereum Holdings

According to data from Arkham reported by Lookonchain, Bitmine has purchased another 18,345 ETH, worth approximately $54.94 million, just a few hours ago. This marks yet another large buy in a growing series of aggressive accumulation moves that Bitmine has made throughout the correction. Their continued willingness to buy at current levels signals strong confidence in Ethereum’s long-term value, even as the market navigates heightened volatility.

Shortly after this report, Lookonchain highlighted activity from a newly created wallet, 0x52B7, which withdrew 30,278 ETH—valued at $91.16 million—from Kraken. The size and timing of the withdrawal have led analysts to speculate that this wallet may be linked to Bitmine or part of a broader accumulation strategy.

Large withdrawals from exchanges typically indicate that the owner intends to hold the assets off-exchange, often for long-term storage or staking, rather than preparing to sell.

If the wallet is indeed connected to Bitmine, this would bring their latest combined accumulation to nearly 50,000 ETH in a single day. Such behavior suggests strategic positioning ahead of potential macro-driven upside or internal confidence in Ethereum’s recovery.

This kind of synchronized whale activity often precedes significant price shifts, reinforcing the idea that large players are preparing for a stronger market phase.

ETH Reclaims $3,000 But Still Faces Key Resistance

Ethereum’s 3-day chart shows a notable improvement after reclaiming the $3,000 level, but the broader trend still carries signs of fragility. The recent bounce followed a deep corrective move that sent ETH from the $4,500 region down to the $2,700–$2,800 support zone, where buyers finally stepped in with conviction. The strong lower wicks around this area confirm that demand remains active, but Ethereum has yet to fully recover its bullish structure.

Price now trades just below the 50 SMA, which sits near the $3,100–$3,150 zone—an important short-term resistance level. A clean break above this moving average would signal renewed momentum and increase the chances of retesting the $3,400–$3,600 range. Meanwhile, the 100 SMA and 200 SMA remain slightly above price, reflecting the broader downtrend that has dominated since September.

Volume has picked up slightly during the recovery, but it remains muted compared to the selling spikes seen during the drawdown. This indicates cautious buying rather than aggressive accumulation at these levels. To confirm a trend reversal, ETH must close above the 50 SMA and then challenge the cluster of resistance around $3,200–$3,300.

Featured image from ChatGPT, chart from TradingView.com

Ethereum has fallen below the $2,800 mark after a sharp and sudden decline, deepening market anxiety and raising fresh questions about whether a broader bearish phase may be emerging. The drop has undermined bullish momentum, with buyers struggling to defend key support levels as selling pressure accelerates across both spot and derivatives markets.

Sentiment has deteriorated quickly, and several analysts are beginning to openly discuss the possibility of a sustained bear market if ETH fails to stabilize soon.

Yet amid the growing panic, a notable counter-signal continues to attract attention: Bitmine’s ongoing accumulation. Despite ETH’s decline, the firm has repeatedly added to its holdings, purchasing thousands of ETH over the past several weeks. Bitmine’s persistent buying behavior suggests that at least some large players still view the current correction as an opportunity rather than a risk.

For investors searching for signs of resilience, Bitmine’s actions have become a point of cautious optimism. While the macro structure remains fragile and the downtrend intact, steady accumulation from an institutional buyer provides a potential anchor of support — and raises the possibility that a rebound could form once selling pressure exhausts.

Bitmine Expands Its Massive Ethereum Position

According to on-chain data from Arkham, shared by Lookonchain, Bitmine has continued its aggressive accumulation strategy, purchasing an additional 7,080 ETH—worth approximately $19.8 million—just a few hours ago.

This latest buy adds to a series of repeated inflows over the past several weeks, reinforcing the firm’s conviction even as Ethereum trades near multi-month lows. Bitmine’s willingness to keep adding during periods of heightened volatility has become one of the most notable accumulation trends in the market.

With this purchase, Bitmine’s total Ethereum holdings have climbed to roughly 3.43 million ETH, now valued at around $9.6 billion at current prices. This positions the firm as one of the largest known institutional holders of ETH, and its continued accumulation stands in sharp contrast to the broader atmosphere of fear and defensive positioning. While many traders are reducing exposure amid Ethereum’s sharp decline, Bitmine appears to be doubling down.

Such behavior from a major entity often signals longer-term confidence in Ethereum’s fundamentals, regardless of short-term price action. For investors, Bitmine’s expanding position has created a counter-narrative to prevailing bearish sentiment, suggesting that deeper-pocketed players may be preparing for a recovery once the market finishes resetting.

ETH Tests Weekly Support as Trend Weakens

Ethereum’s weekly chart shows a significant loss of momentum, with price breaking below the 50 SMA and now sitting directly on top of the 100 SMA near the $2,750–$2,800 region. This zone has historically served as an important structural support during prior corrections, making the current interaction a critical moment for the broader trend. The sharp rejection from the $4,500 level marks one of ETH’s steepest weekly declines since 2022, highlighting the intensity of the current sell-off.

The 50 SMA has begun to curl downward, signaling early signs of medium-term trend weakness. Meanwhile, the 100 SMA is flattening, acting as the last dynamic support before the 200 SMA at $2,450, which represents the true long-term floor. A clean weekly close below the 100 SMA would open the door to a deeper retracement toward that level.

Volume has increased during the recent decline, reflecting forced selling and derivatives-driven liquidations rather than orderly profit-taking. Despite this, the long lower wicks forming near $2,700 suggest buyers are still attempting to defend the area.

Featured image from ChatGPT, chart from TradingView.com

According to on-chain tracking, BitMine added 23,773 Ether over three days as the market softened. The buying included 7,080 ETH for close to $20 million on Monday and 16,693 ETH for roughly $50 million on Saturday. Based on reports, those two transactions together pushed the firm’s recent outlay to nearly $70 million.

BitMine Steps Up Accumulation

The purchases follow a larger wave of buying from last week, when Bitwise moved 96,800 ETH for roughly $273 million. Reports have disclosed that BitMine now holds about 3.7 million Ether at an average cost of $3,008 per coin.

That puts the treasury in the red at current prices, but management appears focused on long-term targets: the firm says it is about 60% of the way toward a plan to control 5% of Ether’s supply.

The scale of that aim is unusual. Few corporate treasuries aim for a single-asset share that large. Market watchers see the moves as a clear bet that Ether will be worth substantially more over time, even if the present valuation shows paper losses. The strategy is heavy accumulation during weakness, not trading around price swings.

It seems that Tom Lee(@fundstrat)’s #Bitmine just bought another 7,080 $ETH($19.8M) 2 hours ago.https://t.co/yZbTCFm9GT pic.twitter.com/JHb3WYDa0a

— Lookonchain (@lookonchain) December 2, 2025

Tom Lee’s Targets Shift Again

Meanwhile, Tom Lee, who chairs BitMine, has stepped back from earlier, bolder forecasts for Bitcoin. He previously expected Bitcoin to reach $250,000 by the end of 2025. In recent public comments he first softened that call and then said on CNBC that Bitcoin could reach a new all-time high by the end of January. Lee tied that outcome to a recovery in equities, which he said he expects.

Grayscale Research Counterpoints Cycle Fears

Grayscale Research released analysis pushing back against the idea that Bitcoin must follow the usual four-year halving cycle. The firm suggested BTC could make new highs in 2026 and urged investors to view large pullbacks as part of normal market swings.

Pricing data shows Bitcoin fell about 30% from its October peak through most of November, hitting roughly $84,000 briefly before edging back to about $86,909 as of early Tuesday, according to price feeds.

Why These Moves Matter Now

Large, coordinated buying by treasury firms can shift market psychology. When groups with deep pockets step in, some traders see it as a sign of conviction. At the same time, these entities can take months or years to reach break-even if prices stay below their average purchase levels. That dynamic makes markets more sensitive to both supply concentration and the pace of future buying.

BitMine’s on-chain activity will likely draw more attention if additional large transfers appear. Shifts in the firm’s average cost per ETH may also become a talking point, along with any new remarks from Tom Lee about his updated timeline. Analysts are already examining whether Grayscale’s stance on the halving cycle gains support from other major market participants.

Featured image from BIS Safety Software, chart from TradingView

BitMine Immersion Technologies has loaded up on Ether during the latest market downturn, adding nearly $70 million worth of ETH in just three days.

Blockchain data shared by Lookonchain shows the company bought 7,080 Ether for about $19.8 million on Monday, following a separate purchase of 16,693 ETH for roughly $50.1 million over the weekend.

The buying continues an aggressive accumulation strategy that has seen the firm build one of the largest corporate ETH stockpiles in the market.

BitMine Bet on Ether Deepens Despite Paper Losses

BitMine positions itself as the biggest Ether-focused digital-asset treasury by a wide margin, according to industry trackers.

The company says it now holds around 3.7 million ETH at an average cost of $3,008 per token, leaving it underwater at current prices.

Even so, management has not slowed purchases. The firm claims it is roughly 62% of the way toward a longer-term target of controlling 5% of the total Ether supply.

It seems that Tom Lee(@fundstrat)'s #Bitmine just bought another 7,080 $ETH($19.8M) 2 hours ago.https://t.co/yZbTCFm9GT pic.twitter.com/JHb3WYDa0a

— Lookonchain (@lookonchain) December 2, 2025

Last month, Tom Lee, executive chair of BitMine, said Ether may be entering the early stages of the type of explosive growth cycle that propelled Bitcoin to a 100x rally since 2017.

Lee said the current Ether market resembles Bitcoin’s setup eight years ago, a period marked by deep volatility that ultimately preceded one of the strongest bull cycles in crypto history.

Lee noted that his firm first recommended Bitcoin to Fundstrat clients in 2017 when BTC traded near $1,000.

Since then, Bitcoin suffered several drawdowns of up to 75%, yet still surged more than 100-fold from that initial call.

“We believe ETH is embarking on that same Supercycle,” he wrote, arguing that Ether’s recent weakness reflects doubt, not deterioration.

“To have gained from that 100x Supercycle, one had to stomach existential moments to HODL.”

ETH has trailed Bitcoin for much of 2025, even as the market reached new record highs. Ether notched its all-time high of $4,946 in August, while Bitcoin topped out above $126,000 in October.

BitMine Names New CEO

BitMine has also appointed a new chief executive as the company continues to build one of the largest Ether treasuries among publicly traded firms.

Last month, the company said Chi Tsang will replace Jonathan Bates as CEO, with the transition taking effect immediately.

“With its substantial Ethereum holdings and credibility with both Wall Street and the Ethereum ecosystem, BitMine is positioned to become a leading financial institution,” he said.

Alongside the leadership change, BitMine appointed three new independent board members.

As repored, Ethereum whales have significantly increased their exposure as ETH hovers near $3,000, a trend analysts say has historically preceded major market reversals.

CryptoQuant data shows wallets holding between 10,000 and 100,000 ETH have accumulated 7.6 million ETH since April, a 52% jump, while smaller holders continue to trim their balances.

The post BitMine Doubles Down on Ether With $70M Buying Spree Despite Market Slump appeared first on Cryptonews.

Ethereum has reclaimed the $3,000 level after weeks of heavy selling pressure, yet the recovery remains fragile as momentum continues to fade. The market is still dominated by fear, and confidence among retail traders has weakened significantly.

Analysts warn that bulls are losing control of the trend, and some are beginning to call for the early stages of a potential bear market. With Ethereum trading nearly 40% below its August all-time high, every move upward is being met with hesitation, and the broader market environment has yet to stabilize.

Despite this uncertainty, large players continue to accumulate ETH, offering a contrasting signal to the prevailing bearish sentiment. According to new data from Lookonchain, Bitmine has been consistently buying Ethereum during this downturn, showing no signs of slowing its accumulation strategy.

This persistent interest from large holders suggests that institutional and high-net-worth buyers may still see long-term value at current levels, even as short-term traders remain cautious.

Bitmine Deepens Accumulation as Ethereum Struggles for Momentum

Lookonchain reports that Bitmine has continued its aggressive accumulation strategy, purchasing another 14,618 ETH—worth roughly $44.34 million—a few hours ago. This new acquisition further strengthens Bitmine’s already massive Ethereum position, which now totals 3.436 million ETH. At current prices, their holdings are valued at approximately $10.39 billion, underscoring their long-term conviction despite the ongoing market turbulence.

This level of accumulation from a major player stands in sharp contrast to the broader sentiment across the market, where uncertainty and fear persist. Retail investors remain cautious, and many analysts argue that Ethereum’s failure to reclaim momentum above $3,000 signals a weakening trend.

However, Bitmine’s continued purchases suggest a fundamentally different outlook—one rooted in long-term valuation rather than short-term volatility.

Large, disciplined buyers often accumulate in periods of market weakness, viewing discounted prices as strategic entry points. Bitmine’s behavior mirrors this pattern and could indicate expectations of higher prices in the months ahead.

Still, for Ethereum to benefit from this institutional confidence, it must stabilize and build a stronger support base. The coming weeks will reveal whether this sustained whale demand will outweigh broader selling pressure and help ETH break out of its current downtrend.

ETH Attempts Recovery but Faces Strong Resistance

Ethereum is attempting to recover after weeks of sustained selling pressure, reclaiming the $3,000 level but still struggling to build meaningful momentum. The chart shows ETH bouncing from the recent low near the mid-$2,600s, where a cluster of demand emerged and halted the sharp decline.

However, despite this rebound, Ethereum remains below all three major moving averages—the 50-day, 100-day, and 200-day—which now act as layered resistance zones.

The 50-day SMA is trending downward and has already crossed below the 100-day SMA, signaling a weakening market structure. Meanwhile, the 200-day SMA sits slightly above current prices, reinforcing the idea that ETH is still in a vulnerable position. Price action remains choppy, with lower highs forming consistently since the peak in early October, reflecting persistent bearish control.

Volume patterns also confirm this cautionary picture. While the recent bounce came with a modest increase in buying activity, it is still far weaker than the selling volume observed during the November capitulation. For a meaningful trend reversal, ETH must break above the $3,300–$3,400 region, reclaim its moving averages, and establish a higher low.

Featured image from ChatGPT, chart from TradingView.com