While Bitcoin continues to battle for $80,000 and Ether cannot get back above $2,300, Tom Lee's Bitmine bought 10,452 ETH for $25m, bringing its holdings to 6,051,933 ETH valued at $14.26bn. That is roughly 4.95% of the total Ether supply. About 5,227,037 ETH—roughly 86% of Bitmine's stash—is staked, generating an estimated annual staking revenue of $318m, which by my calculation equals about 2.6% per annum on the staked amount.

Recall that a week earlier the company held 6,041,481 ETH, so its purchase pace remains moderate.Tom Lee believes the bull cycle in crypto has already started. One of his arguments is that Ether's correction was relatively modest compared with the plunge in tech stocks. That is a striking claim in a week when Bitcoin sits near $80,000 and is heading for a monthly decline. The logic is clear: if an asset falls less than the index that supports AI trading, some capital views it as defensive inside a risk class.

More important is this: Lee previously said Bitmine would stop buying Ether once it reached 5% of supply. By my estimate only about 60,000 ETH remain to hit that threshold at current accumulation rates—a matter of weeks. That means the market may soon lose its most consistent buyer, and with it, a support that recently offset outflows from Ether ETFs. The company already holds almost the needed share, so further dynamics depend on whether a replacement buyer emerges.

A second storyline concerns banks. The Office of the Comptroller of the Currency yesterday urged small banks to enter the stablecoin market and consider issuing payment stablecoins, including through subsidiaries. The regulator intends to ease requirements and adapt supervision so small banks can compete with large financial institutions and crypto firms. This continues the final rules under the GENIUS Act, which take effect on January 18, 2027.

I think Lee's talk of a started bull cycle is currently ahead of price. With the Fed meeting on Wednesday and tech earnings still to come, Ether faces another test, and I allow a move to $2,276 with an attempt to hold that zone. If Bitmine's buying stops before ETF inflows return, downward pressure on Ether will intensify.

Technical picture for Bitcoin

Price trades in a corridor between support at $79,400 and resistance at $79,800, with outer markers at $79,000 below and $80,300 above. The plan centers on two mirror scenarios, each with breakout and rejection variants. For longs, I consider a break above $79,800 with confirmation: buy targeting $80,300, provided the price stays above the 50-day MA and Awesome is > 0; take profit at the target and consider flipping to a short on the retracement. If a drop below $79,400 fails and the price returns, buy the bounce with initial target $79,800 and then $80,300.

Sells are symmetric: a confirmed break below $79,400 opens a short toward $79,000, only when the MA is above price and Awesome < 0. If a break above $79,800 fails and the price returns below, sell the rejection targeting $79,400 and then $79,000.

Technical picture for Ether

The logic mirrors Bitcoin on its own price scale. The corridor lies between support $2,293 and resistance $2,305, with outer markers $2,276 below and $2,323 above. Buy a confirmed break above $2,305 targeting $2,323, provided the price is > 50-day MA and Awesome > 0. If a drop below $2,293 fails and the price returns above, buy the bounce targeting $2,305 and then $2,323.

Sell a confirmed break below $2,293 toward $2,276 when the MA is above price and Awesome < 0. If a break above $2,305 fails and price returns below, sell the rejection targeting $2,293 then $2,276. Both indicators are filters to avoid false moves, not standalone entry triggers; trades are taken only after the price confirms the specified levels.