Tom Lee Says Ethereum Bottom Is Hours Away — BitMine Adds 21M to Its 7.6B ETH Stack

Bitcoin who? Wall Street whales are rotating into ETH, and Fundstrat’s Tom Lee thinks the bottom is already in.

⚡ Quick Hits

• 🧑‍💼 Who: Tom Lee (Fundstrat), Mark Newton (technical analyst)
• 💰 Whales: BitMine now holds 1.72M ETH (7.65B)
• 🏦 BlackRock: Buying ETH faster than BTC
• 📈 ETH support: 4,300 trendline tested
• 🎯 Targets: 5,100 → 5,450 → 6,290

🐳 Institutional ETH Grab: BitMine Goes Nuclear

BitMine Immersion Technologies just dropped another 21.28M on ETH, bringing its war chest to 1.72M ETH — officially the largest corporate Ethereum treasury on Earth.

And they’re not done: BitMine wants 5% of all ETH (6M tokens, 22B). Yeah, they’re basically trying to become Ethereum’s MicroStrategy.

BlackRock is also in the mix, scaling ETH buys faster than Bitcoin. That rotation is real: institutions and HNW players — even political elites — are quietly shifting from BTC to ETH.

📉 The Bottom Call: Tom Lee Doubles Down

Tom Lee says ETH is bottoming out “within hours.” Why?

• Price kissed the 4,300 ascending trendline → textbook retest.
• Ichimoku Cloud + RSI → flashing bullish alignment.
• Fibonacci extensions → point to 5,100–5,450 as first stops.

Mark Newton backs the call, calling the latest dip a “capitulation flush” before a sharp recovery.

🔄 The BTC → ETH Rotation

Bitcoin fell 5.3% in August. Ethereum? Up 25%. Institutions aren’t chasing memes, they’re chasing yield + staking + programmable money.

ETF inflows and corporate treasuries are rewiring the market structure. This isn’t retail-led pumps anymore — it’s Wall Street balance sheets reshaping crypto allocation.

🧭 Bigger Picture

Ethereum is officially breaking out of Bitcoin’s shadow. With BitMine stacking billions and BlackRock leaning ETH-heavy, the narrative is shifting:

• BTC = Digital Gold.
• ETH = Digital Wall Street.

If Tom Lee is right, we’re hours away from ETH’s next leg up. The battleground? 5,100–5,450 — with 6,290 on the horizon.

TL;DR

• 🐳 BitMine now holds 1.72M ETH (7.65B) → gunning for 5% of total supply
• 🏦 BlackRock + BitMine = ETH > BTC in corporate treasuries
• 📉 Tom Lee: ETH bottom near 4,300 already in
• 🎯 Targets: 5,100 → 5,450 → 6,290
• 🔄 Institutional rotation shows ETH becoming the primary asset for Wall Street