Ether could also be getting into the early levels of the kind of explosive development cycle that propelled Bitcoin to a 100x rally since 2017, in accordance with Tom Lee, government chair of Ether-focused treasury agency BitMine.
Key Takeaways:
- Tom Lee says Ether could also be getting into a “Supercycle” just like Bitcoin’s 100x rally that started in 2017.
- ETH is approaching the common price foundation of long-term holders, a degree traditionally linked to sturdy accumulation.
- Lengthy-term wallets now maintain 27 million ETH, signaling rising conviction regardless of the latest market pullback.
In an X publish on Sunday, Lee stated the present Ether market resembles Bitcoin’s setup eight years in the past, a interval marked by deep volatility that finally preceded one of many strongest bull cycles in crypto historical past.
Tom Lee: Bitcoin’s 100x Run Started With a $1,000 Name in 2017
Lee famous that his agency first beneficial Bitcoin to Fundstrat purchasers in 2017 when BTC traded close to $1,000.
Since then, Bitcoin suffered a number of drawdowns of as much as 75%, but nonetheless surged greater than 100-fold from that preliminary name.
“We consider ETH is embarking on that very same Supercycle,” he wrote, arguing that Ether’s latest weak spot displays doubt, not deterioration.
“To have gained from that 100x Supercycle, one needed to abdomen existential moments to HODL.”
ETH has trailed Bitcoin for a lot of 2025, even because the market reached new file highs. Ether notched its all-time excessive of $4,946 in August, whereas Bitcoin topped out above $126,000 in October.
Each property have since pulled again sharply, with BTC down 25% from its peak and ETH sliding greater than 35%. Lee framed the retreat as a part of the “discounting of a large future.”
Bitcoin is a risky asset.
We first beneficial Bitcoin to Fundstrat purchasers in 2017 (1%-2% allocation)
– Bitcoin 2017 ~$1,000
Since then (previous 8.5 years), $BTC:
– 6 declines > -50%
– 3 declines > – 75%
2025, Bitcoin 100x from our first suggestion
TAKEAWAY:
To have… pic.twitter.com/xtIRGLdnWM— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) November 16, 2025
On-chain information suggests Ether could also be nearing a essential degree for long-term holders.
CryptoQuant analyst Burak Kesmeci stated ETH’s present worth, round $3,150, sits simply $200 above the common price foundation of long-term accumulators, whom he described as buyers who’ve been “patiently stacking.”
Ether has solely fallen beneath this degree as soon as this yr, throughout April’s market shock triggered by President Donald Trump’s world tariff rollout.
In keeping with Kesmeci, long-term conviction in Ether is stronger than ever. Roughly 17 million ETH has moved into accumulation addresses in 2025, pushing the full stability held by long-term wallets to 27 million ETH, up from 10 million at first of the yr.
If ETH slips to the $2,900 degree, he stated, historical past suggests it might signify “one of many strongest long-term accumulation alternatives.”
Ether briefly touched a 24-hour low of $3,023 however has since steadied, buying and selling flat round $3,185.
Ethereum Whales Accumulate 7.6M ETH as Market Enters Compression Part
As repored, Ethereum whales have considerably elevated their publicity as ETH hovers close to $3,000, a pattern analysts say has traditionally preceded main market reversals.
CryptoQuant information reveals wallets holding between 10,000 and 100,000 ETH have collected 7.6 million ETH since April, a 52% leap, whereas smaller holders proceed to trim their balances.
The divergence suggests institutional-sized gamers are positioning for a possible rebound, whilst retail stays cautious.
Analysts additionally level to repeated spikes in Ethereum’s spot buying and selling quantity since early November, a sample generally seen in late-stage compression phases earlier than giant worth strikes.
In the meantime, Ethereum community charges have plunged to a few of their lowest ranges in years, with gasoline costs dropping to 0.067 Gwei final week as onchain exercise slowed following October’s market-wide crash.
Through the 2021 bull run, transaction prices on Ethereum’s base layer continuously exceeded $100–$150, driving customers towards cheaper options and layer-2 options.
Nevertheless, for the reason that Dencun improve in March 2024, which optimized gasoline charges for layer-2 rollups, Ethereum’s charge income has collapsed by 99%, in accordance with Token Terminal.
The publish Ether Might Be Starting Bitcoin’s 2017-Fashion Development Cycle, Says BitMine’s Tom Lee appeared first on Cryptonews.