Tom Lee Predicts a Quick Recovery for Ethereum, While BitMine Purchases $21 Million in ETH!

Jakarta, Pintu News – The crypto market is under heavy selling pressure, with more than $200 billion lost in a sharp correction. Bitcoin (BTC) dropped to its lowest level in seven weeks, pulling Ethereum (ETH) down with it.

However, while traders remain cautious, Fundstrat Global Advisors co-founder Tom Lee believes Ethereum’s bottom could happen “within hours.”

This statement came just as ETH recovered from $4,313 back to above $4,430, showing early signs of resilience.

Why Fundstrats are Seeing Low Point Formation

Lee’s optimism is supported by Mark Newton, Fundstrat’s chief technical strategist, who says that Ethereum’s current state offers a favorable risk-reward opportunity.

Read also: Ethereum Price Rises 3% to $4,500 Today (Aug 27): Are ETH Holders Starting to Sell?

According to Newton, ETH will most likely not drop lower than last week’s low and could rise soon. He sees a recovery zone between $5,100 to $5,450, which suggests that the current weakness may only be temporary.

“ETH looks like a good risk/reward opportunity right now. I don’t see it breaking this trend or falling below $4,067, only if that happens will the bullish case be invalidated,” Newton explained.

Meanwhile, some traders are still divided in their opinions. A user named Flyu pointed out that the updated quantitative chart shifted Ethereum’s trendline higher by starting from August instead of June.

This adjustment removes the possibility of ETH retesting the support level around $4.15K, reinforcing a more bullish structure.

BitMine Buys $21.3 Million Worth of Ethereum During a Downturn

Adding support to the bullish case, BitMine Immersion Technologies is aggressively expanding its ETH holdings. During the recent price drop, the company purchased 4,871 ETH worth $21.3 million, increasing its total holdings to 1.72 million ETH valued at around $7.5 billion.

Currently, BitMine controls nearly 40% of the total Ethereum held by institutional firms, making it the largest institutional holder of the asset. The move is part of a broader trend where institutions are capitalizing on dips to build positions.

Furthermore, BitMine also revealed that its crypto and cash reserves increased by $2.2 billion in just one week, which lifted its net asset value per share from $22.84 at the end of July to $39.84.

At the same time, strategist Michael Saylor added $357 million worth of Bitcoin to his coffers, showing that both ETH and BTC continue to attract long-term buyers at lower price levels.

Read also: WLFI Token Ready to Launch: What to Expect from the Upcoming September 1 Release?

What It Means for Ethereum Investors

Ethereum is still down 11% from its all-time high, but the combination of technical signals and heavy institutional buying suggests that a recovery may already be underway.

If Tom Lee’s predictions prove correct, Ethereum could be entering its next phase of gains sooner than expected, with big players like BitMine leading the charge.

That’s the latest information about crypto. Follow us on Google News to get the latest crypto news about crypto projects and blockchain technology. Also, learn crypto from scratch with complete discussion through Pintu Academy and stay up-to-date with the latest crypto market such as bitcoin price today, xrp coin price today, dogecoin and other crypto asset prices through Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, get a web trading experience with various advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpedia. Tom Lee Predicts Ethereum Price Could Recover Fast After $200B Market Wipeout. Accessed on August 27, 2025
• Crypto News. Tom Lee Calls Ether Bottom in Next Few Hours as Bitmine Doubles Down with $21M Buy. Accessed on August 27, 2025