Bitcoin (BTC) is trading around $103,768, down 3.22% in the last 24 hours, with a market cap of $2.07 trillion. Despite the recent drop, veteran Wall Street strategist Tom Lee remains confident that Bitcoin will reach new highs before the end of the year.
Tom Lee Backs Crypto Recovery as BitMine Expands $12.5B Ethereum Holdings
Lee, who also serves as Chairman of BitMine Immersion Technologies (BMNR), sees the current correction as a healthy reset following last week’s volatility. “The market is consolidating,” he explained. “Ethereum and Bitcoin fundamentals are stronger than ever, stablecoin volumes are surging, and blockchain revenues are at record levels.”
BitMine’s aggressive expansion backs his optimism. The firm recently added 82,353 ETH, worth over $294 million, bringing its total Ethereum holdings to 3.39 million ETH, or 2.8% of Ethereum’s circulating supply. At current prices, that’s nearly $12.5 billion, making BitMine one of the largest institutional crypto holders.
Lee predicts Bitcoin could rally toward $150,000–$200,000, while Ethereum might climb to $7,000, fueled by institutional adoption and renewed capital inflows into crypto infrastructure.
Bitcoin (BTC/USD) Faces Technical Pressure
From a technical standpoint, Bitcoin is under strain after breaking below a symmetrical triangle pattern that’s been forming since mid-September. The breach suggests a continuation to the downside, especially after multiple failed attempts to reclaim resistance near $111,000.
Recent candles show a series of wide-bodied red bars, signaling strong selling conviction. The 50-day EMA remains below the 200-day EMA, forming a bearish alignment. Meanwhile, the RSI near 30 shows oversold conditions but no bullish divergence yet, meaning downward momentum could persist.
Key support zones now sit at $103,500 and $100,250. A daily close below $103,400 could push BTC toward the psychological $100,000 level, an area where institutional buyers might step in.
Dip-Buying or More Downside?
For traders, the current price zone presents both opportunity and caution. Short-term strategies include:
- Selling the retest around $106,300–$107,900, with stops above $111,000 and targets near $103,500–$100,250.
- Buying confirmation of a bullish engulfing candle above $108,000, supported by rising volume, for a potential recovery toward $111,000.
Despite short-term pressure, the macro outlook remains constructive. As liquidity improves and institutional flows return, Bitcoin could stage a sharp reversal, aligning with Lee’s call for new all-time highs by year-end.
For investors, this pullback may prove to be the kind of “reset moment” that historically precedes Bitcoin’s biggest rallies.
Bitcoin Hyper: The Next Evolution of BTC on Solana?
Bitcoin Hyper ($HYPER) is bringing a new phase to the Bitcoin ecosystem. While BTC remains the gold standard for security, Bitcoin Hyper adds what it always lacked: Solana-level speed.
Built as the first Bitcoin-native Layer 2 powered by the Solana Virtual Machine (SVM), it merges Bitcoin’s stability with Solana’s high-performance framework. The result: lightning-fast, low-cost smart contracts, decentralized apps, and even meme coin creation, all secured by Bitcoin.
Audited by Consult, the project emphasizes trust and scalability as adoption builds. And momentum is already strong. The presale has surpassed $25.7 million, with tokens priced at just $0.013215 before the next increase.
As Bitcoin activity climbs and demand for efficient BTC-based apps rises, Bitcoin Hyper stands out as the bridge uniting two of crypto’s biggest ecosystems. If Bitcoin built the foundation, Bitcoin Hyper could make it fast, flexible, and fun again.
Click Here to Participate in the Presale
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