- Tom Lee declared crypto’s biggest-ever bull market at the Korea Blockchain Week.
- BitMine holds nearly 5% of the ETH supply and stakes most for steady passive yields.
- Lee sees Ethereum’s long stagnation as a buildup for a major breakout.
BitMine chairman Tom Lee stood on stage at Korea Blockchain Week on September 30 and said crypto’s biggest bull market yet is already underway.
Why Lee Thinks This Is Different
Lee pointed to several signals lining up at once. Bitcoin has climbed back above its 200-day moving average, a level traders watch closely for turning points. Big institutions are buying again, tokenization is picking up speed, and a huge wave of wealth is shifting from older generations into digital assets. He even pointed to AI systems starting to pay each other using crypto.
On Ethereum, Lee made an interesting point. ETH has barely moved for almost five years. He doesn’t see that as a bad sign; he sees it as pressure building up for a big move once it finally breaks free.
BitMine Is Putting Its Money Where Its Mouth Is
BitMine now holds close to 6 million ETH, nearly 5% of everything in existence, and it isn’t just sitting on the coins. Around 85% to 87% of that ETH is staked, meaning it’s locked away earning rewards instead of sitting on exchanges ready to be sold. That staking alone brings in more than $300 million a year for the company, so there’s little reason for BitMine to sell even if prices drop.
What Could Prove This Wrong
This isn’t a sure thing. A few things could break the bullish story:
- Bitcoin dropping to a new low on the weekly chart.
- A sudden 10% to 20% crash in US stocks, whether from world events or an AI bubble bursting
- The Federal Reserve surprising markets with sudden rate hikes
Any of these could choke off the money flow this rally depends on.
Tom Lee’s bullish outlook rests on a combination of technical signals, institutional demand, and broader shifts in how capital is moving into digital assets. While these factors suggest a stronger foundation than in past cycles, the trend still depends on sustained momentum and supportive macro conditions.
For now, the market appears to be building toward a larger move, but confirmation will come only if prices continue to hold key levels and attract real buying interest.
Related: Ethereum Price LIVE: Breaker Block Retest Puts $3,447 ERL in Focus
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