Tom Lee's Ethereum portfolio currently shows a $7.35 billion loss following a slump in ETH prices.
A bearish chart setup for Ethereum points to a potential 25% drop toward $1,600. This scenario risks over $10 billion in unrealized losses for BitMine.
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Bitcoin dropped to its lowest level since late March, trading near $65,000 as selling pressure intensified. The decline coincided with rising oil prices and weakness in U.S. stocks following Middle East developments. Ethereum also fell sharply, testing support near $1,800.
Ethereum fell to $1,506, its lowest price since April 2025, as spot ETF outflows exceeded $870 million over four weeks. The decline coincides with rising exchange deposits and deleveraging in derivatives markets.
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BitMine Immersion Technologies, led by Tom Lee, purchased $240 million worth of Ethereum in its third consecutive weekly buy exceeding 100,000 ETH. The move coincides with Ethereum's continued price rise and Bitcoin hitting $80,000 for the first time since January. Meanwhile, Strategy skipped a Bitcoin purchase as BTC reached this milestone.
Bitcoin and Ethereum extended losses as more than $400 million in leveraged crypto positions were liquidated in a single day. Macroeconomic concerns and ETF outflows weighed on investor sentiment.