Tom Lee – the famed market strategist behind Fundstrat and one of Bitcoin’s most vocal early bulls – has been appointed as chairman of BitMine Immersion Technologies and the company is now pivoting with a $250 million private placement dedicated to accumulating ETH.
Tom Lee – the famed market strategist behind Fundstrat and one of Bitcoin’s most vocal early bulls – has been appointed as chairman of BitMine Immersion Technologies and the company is now pivoting with a $250 million private placement dedicated to accumulating ETH.
According to Lee, Ethereum is no longer just the gas for DeFi, it’s the backbone of a rapidly expanding stablecoin ecosystem that’s drawing in players from Visa to Congress.
“Ethereum is the architecture of stablecoins,” Lee noted, describing stablecoins as the “ChatGPT of crypto” for their viral adoption across banks and businesses.
Ethereum Technical Analysis – Is ETH Gearing Up for a Bullish Breakout?
As per the daily chart below, Ethereum’s weekly chart shows an ascending wedge forming after a solid rebound from sub-$2,000 levels earlier this year.
Currently trading around $2,450, ETH is hovering above a key horizontal support zone that held strong through 2022 and early 2024.
ETH has been forming higher highs and higher lows within a rising wedge and such patterns can result in explosive upside breakouts.
The next major resistance lies around the $2,800–$3,000 range, followed by $3,500 and $4,000.
ETH BoP and MACD levels | Source: TradingView
Further, the MACD is still in bullish territory despite recent consolidation. The blue MACD line remains above the orange signal line, hinting at continued upward momentum.
On the other hand, the BoP indicator currently shows a neutral-to-slightly-bearish reading.
Lee’s endorsement echoes what MicroStrategy did for Bitcoin in 2020. Back then, few believed BTC would hit $111K, yet it did. If Ethereum replicates that trajectory – a six-figure ETH isn’t pure fantasy.
ETH-Based BTC Bull Enters Last Presale Stage
While Lee’s prediction of $100K could manifest in the long term for ETH, BTC Bull ($BTCBULL) – an Ethereum-based meme coin – has entered the last stage of its ongoing presale, raising $7.83 million until now, with just 6 days, 2 hours until the claims go live.
BTC Bull is more than just another meme token. Holders of $BTCBULL tokens can earn Bitcoin airdrops as BTC climbs, with even bigger rewards triggered when BTC crosses milestone price levels like $250,000.
Each $25K increase in Bitcoin’s price prompts either a supply burn (reducing circulating tokens and increasing scarcity) or BTC airdrops, making BTC Bull a dynamic, deflationary ecosystem.
Stakers also benefit from high APY returns in a secure Ethereum-based smart contract throughout the presale phase. Currently, BTCBULL holders can enjoy a staking rewards rate of 52%.
To purchase the BTCBULL token at the current price of $0.002585, simply visit the official BTC Bull website and connect a supported wallet like Best Wallet to continue.
Thereafter, simply swap crypto or use a card to complete the transaction.
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