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BitMine’s ETH Dip Buy: Could Tom Lee’s 2026 Ethereum Prediction Be at Play?

Imagine selling your favourite cryptocurrency, only to watch a major investment company scoop it up mere moments later. That scenario appears to be unfolding now with BitMine Immersion Technologies (“BitMine”), which is reported to have purchased a large quantity of Ethereum (ETH) while many investors are fretting the recent market dip.

With Ethereum’s price falling from about $3,635 yesterday to a low around $3,405 today, institutional attention is notable. According to analyst Ash Crypto, BitMine acquired 24,007 tokens worth approximately $82 million. The current price hovers near $3,524.70, reflecting a small 1 % dip. While the broader altcoin market recorded a 7 % surge over the past week, the singular fact that big‑money players are buying during a volatile period underscores long‑term conviction in the token’s value.

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So, why are these institutional players confident in the face of market turbulence? Might a rebound in price be imminent? And importantly, how does this align with analyst Tom Lee’s Ethereum price predictions for 2026 and beyond? Let’s explore.

Why BitMine Is Buying the ETH Dip: Two Key Reasons

Large institutions don’t make purchases on emotion alone — there tends to be a clear strategic playbook behind the scenes. BitMine’s latest move appears to reflect a blend of strong fundamentals, technical analysis, and alignment with Tom Lee’s forward‑looking price targets.

1. Solid Forecasts Fuel Confidence
One of the major drivers behind BitMine’s ETH accumulation is the bullish forecast from Tom Lee. Lee, in his role as chairman of BitMine, has expressed strong belief in Ethereum’s next phase of growth. For example, he has suggested that if certain technical thresholds are breached — such as the ETH/BTC ratio surpassing 0.087 — Ethereum’s fair value corridor could stretch into the $12,000 to $22,000 range. 
Another analysis puts Lee’s longer‑term target even higher, framing Ethereum as a potential multi‑trillion‑dollar settlement layer as global finance migrates on‑chain, with possible upside into the $63,000 range under a favourable scenario. 
These kinds of projections provide institutional buyers with context and conviction: the current dip is not seen as a failure but as an accumulation opportunity ahead of the next major leg upward.

2. Buying at Technical Support Whenever Possible
Another reason institutions are stepping in now is based on chart‑level and technical considerations. The recent price range of $3,400–$3,500 for Ethereum is being viewed by some analysts as a key support zone. The argument goes: if sentiment recovers and technicals align, momentum could kick in from here.

For instance, Lee’s team and associated analysis point to a rising Relative Strength Index (RSI) and a positive Moving Average Convergence Divergence (MACD) crossover as classic signals of accumulating strength. According to one piece: “This is exactly where strong and long‑term rallies begin.”
In other words, rather than chasing highs, institutions are looking to deploy capital at perceived lows and hold for the long term. BitMine’s accumulation is timely in that light.

Will the Bull Run Begin Now? A Balanced Market View

Despite the bullish narrative, not all analysts believe an immediate runaway rally is in hand. Recent commentary from analysts such as Ali Charts suggests caution: the market is struggling near the $3,550–$3,600 level and has formed consecutive lower highs since early Q4 2025.
Here are three realistic scenarios for Ethereum’s trajectory based on current data and sentiment:

1. Short‑Term Outlook (Next Few Weeks)
   Ethereum could edge higher toward $3,800 if positive momentum from RSI and MACD holds and if broader crypto sentiment improves.

2. Mid‑Term Outlook (Next 2–3 Months)
   If more institutions follow BitMine’s accumulation strategy and macro factors remain favorable, Ethereum could see a push toward $4,500–$5,000.

3. Long‑Term Outlook (Mid‑2026)
   Assuming growing ETF adoption, network improvements, and broader tokenization of financial assets, a push toward $10,000–$12,000 is plausible—aligning with Lee’s forecasts. This aligns with the question “what is Ethereum price prediction for 2026?” and reflects Tom Lee’s longer‑term vision.

What to Watch: Key Factors and Risks

Key drivers to monitor include:

• Institutional treasury moves: How many large agencies like BitMine continue to accumulate ETH and how this supply accumulation affects market dynamics.

• Technical breakout thresholds: Especially the ETH/BTC ratio (0.087 level) and ETH breaking resistance zones.

• Regulatory developments: For example, whether tokenisation of assets accelerates and if Ethereum becomes a more formally accepted settlement layer.

• Network fundamentals: Growth in stable‑coin volume, DeFi activity, Real‑World Asset (RWA) tokenisation, and scaling improvements for Ethereum.

• Macro environment & crypto correlations: Even though Ethereum and crypto in general have their own thesis, they remain subject to broader market sentiment and macro risk.

Risks to bear in mind:

• Ethereum could suffer a further pull‑back if macro headwinds intensify, or if regulatory fears surface.

• Technical support zones may fail: A drop below $3,400–$3,500 could trigger further downside.

• Institutional accumulation strategies depend on continued capital inflows; if investor enthusiasm wanes, valuations or momentum may stall. Indeed one recent analysis labels BitMine’s treasury‑model “brilliant or a hidden time bomb,” noting that if ETH prices collapse or investor appetite dries up, the model could face stress. 

• Price targets remain speculative: Projects of $12,000 or $63,000 for Ethereum require several favourable conditions aligning; they are not guaranteed outcomes.

Conclusion

The recent move by BitMine to accumulate Ethereum during a dip suggests confidence among big‑money players in the token’s long‑term role as a foundational layer for decentralised finance, tokenised assets and next‑generation computing. This in turn ties into Tom Lee’s bullish thesis for Ethereum, extending into 2026 and beyond.

From a near‑term perspective, Ethereum appears to be building a base in the $3,400–$3,500 zone. If that base holds and the right technical breakouts occur, the path to higher ranges—$4,500 to $5,000 in the mid‑term and potentially $10,000+ in the longer term—becomes more plausible. Yet, investors should remain alert to market risks, ensure they monitor support/resistance levels carefully, and avoid assuming that upside is guaranteed.

In sum: yes, this latest institutional accumulation is a strong positive signal. But whether the next major bull run for Ethereum begins today, tomorrow or later depends largely on coordination of fundamentals, technicals and macro conditions.

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Writer @Erlin
Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.
 
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