Ethereum
Why Ethereum is down 2.9% today
Analysis
Ethereum (ETH) fell 2.9% over the past 24 hours amid a broader market pullback, even as some buyers framed the dip as an entry point. The Block reported Bitmine bought $84 million in ETH while Tom Lee called the pullback “attractive,” suggesting dip-buying wasn’t enough to offset near-term selling pressure.
Contributing Factors (3)
Bitmine buys $84 million in ETH as Tom Lee calls market pullback ‘attractive’ entry point: onchain data
Lee said that the company's large unrealized losses are an expected part of its Ethereum treasury strategy during market downturns.
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Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.