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In Paris, during Blockchain Week 2026, Tom Lee delivered an analysis that contrasts with the prevailing sentiment. According to him, the recent bearish phase is already coming to an end. Even better, the analyst anticipates a marked reversal, notably driven by Ethereum. Between macroeconomic reading and ambitious projection, this position reignites expectations for the next phase of the crypto cycle.
In brief
- Tom Lee states that the mini crypto winter is already over, marking a possible market bottom.
- His analysis is based on a macroeconomic reading where markets rebound after an accumulation of bad news.
- The asset would be exiting a major consolidation phase, opening the way for a new bullish cycle.
- Tom Lee envisions an ambitious scenario with Ethereum heading towards 60,000 dollars, even a theoretical valuation at $62,000.
A mini crypto winter already over according to Tom Lee
While he had already anticipated an Ethereum beyond $60,000 for several weeks, Tom Lee appeared particularly assertive before the Parisian audience. According to him, the recent correction does not resemble a true bear market but rather a transitional phase: a mini crypto winter already fading away.
To support his analysis, he referred to the behavior of traditional markets. Thus, he stated that “stock markets hit their bottom when bad news accumulates. And these were not lacking”. This macroeconomic reading suggests that the bottom may have already been reached despite an environment marked by multiple tensions and uncertainties.
Several concrete elements support this analysis :
- Ethereum shows a 43 % drop since October 2025 ;
- Its price hovers around 2,300 dollars ;
- The estimated average production cost for some players reaches 3,660 dollars ;
- The crypto market is undergoing a phase described as “unusual” due to its decoupling from stock markets.
These data reflect significant pressure on the asset while reinforcing the idea of a potentially already reached bottom in an atypical market context.
Ethereum driven by new structural engines
Beyond the simple observation of cycle end, Tom Lee projects a much more ambitious trajectory for Ethereum. He estimates that the asset is exiting a “massive consolidation”, a prolonged accumulation phase that could precede a large bullish movement.
This reading is based on the emergence of new uses, notably asset tokenization and the development of artificial intelligence agents operating directly on-chain.
In this perspective, his valuation scenario is particularly bold: Ethereum would be “probably on its way to 60,000 dollars”. He even mentions a theoretical value estimate at 62,000 dollars if the asset reaches 25% of bitcoin’s long-term value. This approach is based on a relative comparison between the two assets, integrating the adoption potential and technological developments specific to the Ethereum ecosystem.
Such a projection opens a field of reflection on the structure of the next crypto cycle. If the drivers mentioned by Tom Lee are confirmed, Ethereum could establish itself as a central pillar of the digital infrastructure linked to AI and tokenized finance. The question remains whether the market will validate this ambitious vision or require concrete proof of adoption before fully incorporating this scenario into prices.
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Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
