Fundstrat Global Advisors Managing Partner Tom Lee tint ether until Tuesday in the middle of a crypto market dip while his Eth Treasury Firm Bitmine bought another $ 21 million ether.
“Calling below the ETH to happen in the next few hours,” Says Tom Lee to X on Tuesday of 1 AM UTC while crypto markets have seen red in $ 200 billion market cap Event in liquidation.
There is a chance that the so -called bottom of Lee is in, like Ether (Eth) began to recover at the time of writing, returning to trade above $ 4,430 again.
Lee made his prediction as he shared a message from Mark Newton, the director of technical strategy in Fundstrat The global advisors, who said, “ETH is a very good risk/reward here,” added that he is “highly skeptical” that it destroys the trend or breaks down last week.
“Ideally, it should be lowered once in the next 12 hours near $ 4,300 and start pushing again to new highs and get over $ 5,100 and up to close to $ 5,400 to $ 5,450,” Newton said.
Ether drops 11% from all times high
Lee’s call came in the middle of a crash in the crypto market initiated by Bitcoin (Btc), which fell to seven weeks low on Tuesday morning.
Ether also suffered the tank of more than 7% to under $ 4,313 in Coinbase, According to In tradingview.
Related: After the $ 400m splurge, Eth Treasurer Eyes Stock Buyback in the midst of action concerns
Bitmine Eth Holdings reached $ 7.5 billion
Meanwhile, Bitmine Immersion Technologies continued aggressive accumulation of Ether, Buying DIP on Tuesday to buy 4,871 ETHs worth $ 21.3 million, According to In Arkham Intelligence.
It brings its total handling to 1.72 million ETH, which costs nearly $ 7.5 billion in current market prices.
On Monday, Bitmine revealed It increased crypto and cash holdings by $ 2.2 billion to $ 8.8 billion, adding more than 190,500 tokens over the past week.
The Crypto Plus Cash Net Asset value each up to $ 39.84, from $ 22.84 in late July.
The Crypto NAV is calculated as the amount of crypto and cash asset divided by fully melted sharing of the remaining, of which the firm has 221.5 million.
ETH’s treasures continue to grow
Bitmine is the clear leader of the market for the Ether Treasury with a 40% part of the total 4.3 million ETH held by corporate entities, According to In the strategyhreserve.
Meanwhile, the largest crypto crypto company in the world, Michael Saylor Strategy, bought the dip Again on Monday, the 3,081 BTC’s scooping for $ 357 million to $ 115,829 per Bitcoin.
Magazine: Eth ‘God candle,’ $ 6k next? Coinbase forces security: Hodler’s Digest
