📰 Why did the mining big shot suddenly stop buying ETH?
Tom Lee revealed at Token2049 in Singapore that his BitMine fund plans to keep buying ETH until it reaches 5% of supply, and then stop. It is still short by about 100,000 coins. The fund already holds about 6.1 million ETH (4.9%), so its buying power is close to the limit. Lee predicted it would take several more weeks to reach the target at the current pace.
Why does this news matter?
At its core, this is bullish capital running into a bottleneck at a key level. Tom Lee is one of the most坚定 bulls in crypto, and his fund’s decision to stop buying means:
- A long-term ETH bull has reached a self-imposed cap, suggesting he may view 5% as a reasonable position size
- It shows that at higher prices, even top bulls face real constraints from purchase costs and target management
- For funds currently hesitating around ETH $2,542.2, this is a clear sentiment anchor — even Lee thinks 5% is enough
Market impact
In the short term, BitMine’s stop-buying could trigger a small amount of selling pressure, but it will more likely be interpreted as a signal that "accumulation at high prices is complete, now taking profits." More importantly, the act itself carries signaling value:
- Impact on ETH holdings structure: it means about 500,000 coins are locked in at the 5% hard cap
- Guidance for follow-up buying: it confirms resistance in the 2.5K–2.6K range
- Historical reference: in 2019, BtcMint stopped buying BTC around $7,000 (then about 1.2% of supply); BTC later still doubled
💡 My view is neutral to slightly bearish. This signal has limited support value for ETH and instead reinforces the view that the 2.5K–2.6K range is under pressure. If ETH falls below $2,460 (the current price corresponding to 5% of supply), then the logic behind this stop-buying breaks down. If Lee is starting to take profits instead (for example, cashing out part of the position), then the $2,470–$2,500 range will face more explicit selling pressure.
This article is not sponsored by any project party, and the author does not hold the assets mentioned in the article
According to Binance Square
⚠️ Not financial advice
#ETH $BTC #BTC
Tom Lee revealed at Token2049 in Singapore that his BitMine fund plans to keep buying ETH until it reaches 5% of supply, and then stop. It is still short by about 100,000 coins. The fund already holds about 6.1 million ETH (4.9%), so its buying power is close to the limit. Lee predicted it would take several more weeks to reach the target at the current pace.
Why does this news matter?
At its core, this is bullish capital running into a bottleneck at a key level. Tom Lee is one of the most坚定 bulls in crypto, and his fund’s decision to stop buying means:
- A long-term ETH bull has reached a self-imposed cap, suggesting he may view 5% as a reasonable position size
- It shows that at higher prices, even top bulls face real constraints from purchase costs and target management
- For funds currently hesitating around ETH $2,542.2, this is a clear sentiment anchor — even Lee thinks 5% is enough
Market impact
In the short term, BitMine’s stop-buying could trigger a small amount of selling pressure, but it will more likely be interpreted as a signal that "accumulation at high prices is complete, now taking profits." More importantly, the act itself carries signaling value:
- Impact on ETH holdings structure: it means about 500,000 coins are locked in at the 5% hard cap
- Guidance for follow-up buying: it confirms resistance in the 2.5K–2.6K range
- Historical reference: in 2019, BtcMint stopped buying BTC around $7,000 (then about 1.2% of supply); BTC later still doubled
💡 My view is neutral to slightly bearish. This signal has limited support value for ETH and instead reinforces the view that the 2.5K–2.6K range is under pressure. If ETH falls below $2,460 (the current price corresponding to 5% of supply), then the logic behind this stop-buying breaks down. If Lee is starting to take profits instead (for example, cashing out part of the position), then the $2,470–$2,500 range will face more explicit selling pressure.
This article is not sponsored by any project party, and the author does not hold the assets mentioned in the article
According to Binance Square
⚠️ Not financial advice
#ETH $BTC #BTC