Tom Lee Doubles Down on Crypto Winter Call as Bitmine Makes Biggest ETH Purchase of 2026
Bitmine Immersion Technologies (BMNR) acquired 101,627 Ethereum (ETH) tokens final week. This marked its largest weekly buy of 2026.
The newest acquisition elevated the corporate’s complete ETH holdings to 4.976 million tokens. Its mixed crypto and money place reached $12.9 billion, in response to the April 20 announcement.
Tom Lee Crypto Winter Call Comes Amid Bitmine’s Largest ETH Buy
The buy was accompanied by a press release from Chairman Tom Lee arguing that the crypto downturn is closer to ending than most anticipate.
“While many consider the crypto winter could final by way of the Fall of 2026, our view stays that the crypto winter is way nearer to ending,” he said.
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Lee pegged his winter-ending name to historic market patterns. He defined that, since 2015, earlier crypto bear markets have usually coincided with fairness drawdowns of a minimum of 20%.
The 2025 crypto decline aligned with a roughly 20% drop within the S&P 500. By distinction, the 2026 fairness pullback has been comparatively modest, at around 8%.
The divergence suggests the present crypto downturn lacks the macro backdrop that has traditionally sustained extended bear markets, implying a shorter length and earlier restoration.
On-Chain and ETF Signals Align
Meanwhile, on-chain indicators and rebounding exchange-traded fund (ETF) flows additionally paint a bullish image for Ethereum. Ethereum trade reserves throughout all platforms fell to roughly 14.6 million ETH this week.
That marks the bottom stage since 2016, per CryptoQuant. Falling trade balances cut back sell-side liquidity out there to merchants.
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Spot Ethereum ETFs additionally posted their strongest weekly inflow since mid-January. The funds drew $275.83 million for the week ending April 17.
Adding to this view, one analyst highlighted that the rely of Accumulating Addresses has edged previous Stable Whales, 2,434 versus 2,410. This crossover suggests establishments are not sitting on the sidelines however are actively constructing positions.
“Whales don’t simply have capital prepared; they’re actively executing orders and shifting belongings to chilly custody,” the post learn.
Despite these tailwinds, ETH nonetheless trades close to $2,306, roughly 53% under its August 2025 all-time high.
Whether Bitmine’s tempo and Lee’s framework maintain up depends on sustained demand and broader market situations.
The submit Tom Lee Doubles Down on Crypto Winter Call as Bitmine Makes Biggest ETH Purchase of 2026 appeared first on BeInCrypto.
