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Ethereum price outlook: Bitmine’s Tom Lee says bottom may be near$ETH
Fundstrat head of research and Bitmine chairman Tom Lee has suggested that Ethereum (ETH) may be nearing a "perfect bottom" in its current market cycle. Speaking at the Consensus Hong Kong 2026 conference, Lee stated that while current sentiment is low, historical data indicates a rapid recovery is likely following such a significant drawdown.
Tom Lee's Ethereum Outlook (February 2026)
Lee's current outlook combines near-term caution with aggressive long-term targets:
The Bottom Level: Lee noted that Ethereum may need to briefly dip below $1,800 or touch $1,890 to complete a "perfected bottom".
V-Shaped Recovery: He emphasized that since 2018, ETH has experienced eight declines of over 52%, and in every case, it resulted in a V-shaped reversal where losses were quickly recovered.
Catalysts for Reversal: Lee believes a crypto market recovery requires Bitcoin (BTC) to reverse first, which he expects will happen once gold's performance weakens later in 2026.
Long-Term Targets: Despite the current slump, Lee maintains highly bullish long-term forecasts, ranging from $7,000–$9,000 in the near future to as high as $60,000 long-term. $BNB
