$ETH sub-1,900 and Tom Lee's still adding through Bitmine $BMNR — now sitting on 6.07M $ETH, roughly 4.97% of total supply, 99% of the way to their 5% target.
That stack was worth $12.9B on Monday. Today at ~$1,881? Down to $11.4B. Still added 9,587 $ETH last week.
$BMNR closed Friday at 17.58. Was 42.08 back in December — down 58% from the highs.
So the question: conviction buy or just stuck holding a massive bag?
If you believe the 2027–2030 cycle thesis, this is exactly what accumulation looks like when conviction meets drawdown. Lee's not trimming — he's adding into weakness. That's either brilliance or stubbornness, and we won't know which until the next leg prints.
Short-term? $BMNR's chart is ugly. Long-term? If $ETH runs back to prior highs, that position rerates hard. But right now, it's a bet on the cycle, not the tape.
Watch $ETH structure here. If we hold 1,850–1,900 and base, this becomes a monster setup into 2027. If we lose it, Lee's sitting through more pain.
I'm long the cycle. Short-term, I'd rather wait for confirmation than catch this knife. But if you're building for the next bull run, this is the kind of price action that sets up generational entries — just not yet.
$SPY $QQQ $COIN all watching crypto here. If $ETH stabilizes, risk-on flows back in. If it doesn't, we're not done flushing.
That stack was worth $12.9B on Monday. Today at ~$1,881? Down to $11.4B. Still added 9,587 $ETH last week.
$BMNR closed Friday at 17.58. Was 42.08 back in December — down 58% from the highs.
So the question: conviction buy or just stuck holding a massive bag?
If you believe the 2027–2030 cycle thesis, this is exactly what accumulation looks like when conviction meets drawdown. Lee's not trimming — he's adding into weakness. That's either brilliance or stubbornness, and we won't know which until the next leg prints.
Short-term? $BMNR's chart is ugly. Long-term? If $ETH runs back to prior highs, that position rerates hard. But right now, it's a bet on the cycle, not the tape.
Watch $ETH structure here. If we hold 1,850–1,900 and base, this becomes a monster setup into 2027. If we lose it, Lee's sitting through more pain.
I'm long the cycle. Short-term, I'd rather wait for confirmation than catch this knife. But if you're building for the next bull run, this is the kind of price action that sets up generational entries — just not yet.
$SPY $QQQ $COIN all watching crypto here. If $ETH stabilizes, risk-on flows back in. If it doesn't, we're not done flushing.