Ethereum
Why Ethereum is down 2.7% today
Analysis
Ethereum (ETH) fell 2.7% over the past 24 hours amid a broader market pullback, which Tom Lee characterized as an “attractive” entry point even as prices moved lower. While on-chain data showed dip-buying support—Bitmine reportedly purchased $84 million in ETH—this accumulation wasn’t enough to offset the near-term downside 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.