Svmuu News Bitmine Chairman Tom Lee stated at the Paris Blockchain Week 2026 conference that the current downturn in the crypto market resembles a "mini crypto winter" and may be nearing its end. He believes that risk assets have already bottomed out amidst "bad news" such as geopolitical conflicts.
He pointed out that Ethereum is expected to break out of its long-term consolidation and will benefit from the tokenization trend and the development of on-chain AI (agentic AI) applications in the future. If his market assumptions hold true, the price of ETH could move towards the $60,000 level, with a long-term fair value potentially reaching around $62,000 (based on his estimate of Ethereum reaching approximately one-fourth of Bitcoin's market capitalization).
Lee emphasized that the U.S. stock market has already bottomed out first, leading to a recovery in risk assets, while this round of crypto correction is a rare "non-synchronized bear market cycle with the stock market." He also mentioned that markets often form bottoms after major negative events such as wars. As of now, ETH has fallen by about 43% from its October 2025 high, and the market remains in a clear volatile range. (Cointelegraph)