Ethereum Bulls Remain Optimistic Amid Market Pullback, Purchasing Signal

Tom Lee, President of Ethereum treasury management firm BitMine, spoke out after a significant market dip. Lee characterized today’s decline as an expected correction following a substantial 36% rally since April’s lows. He highlighted the historical significance of the recent VIX spike, which reached the 51st-largest single-day surge in history. The data from on-chain analytics platform Lookonchain revealed that BitMine purchased 41,421 ETH today, demonstrating a bullish stance despite market fluctuations.