A recent flash crash on the Ethereum market has caused significant volatility, according to reports from BlockBeats. The decline follows a dramatic 36% increase since hitting a low point in April, as noted by BitMine Chairman Tom Lee. This volatile period saw a surge in the VIX fear index, marking it as one of the top 1% most extreme market events with a 29% spike, according to reports. Lee described this downturn as a healthy correction for the market and explained that while the market appears tense, unless there is fundamental structural change, this pullback presents an opportunity to buy in. While he did not confirm a definitive bottom out, he expressed optimism for the potential of positive price increases over the coming week and month. Lee believes with some certainty that a trend upward will follow if asked about market performance within a week.