{"id":38651,"date":"2026-03-20T16:00:15","date_gmt":"2026-03-20T16:00:15","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=38651"},"modified":"2026-03-20T16:00:15","modified_gmt":"2026-03-20T16:00:15","slug":"tom-lee-says-ethereum-looks-ready-to-exit-crypto-winter","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=38651","title":{"rendered":"Tom Lee Says Ethereum Looks Ready To Exit Crypto Winter"},"content":{"rendered":"<p>Tom Lee used a Hong Kong conference stage to argue that Ethereum may be close to a cyclical turn, pointing to historical market analogs and on-chain cost-basis data that, in his view, suggest the selloff has reached exhaustion.<\/p>\n<p>Speaking at the 3rd Futu Expo 2026 in Hong Kong on March 13\u201314, Lee said Bitmine advisor Tom DeMark had identified a striking resemblance between Ethereum\u2019s recent price action and two major S&amp;P 500 declines: the 1987 crash and the 2011 selloff. Lee described the setup as unusually tight.<\/p>\n<h2>Is The Ethereum Bottom In?<\/h2>\n<p>\u201cTom DeMark, he\u2019s a legendary market timer, and he\u2019s provided an analysis to us that says Ethereum, in the last few months, especially since October, is really mirroring what happened to the S&amp;P 500 in 2011 and what happened to the S&amp;P 500 in 1987,\u201d Lee said. \u201cIf you were involved in US markets, both times marked major declines in the S&amp;P. Well, according to him, there\u2019s a 93% correlation to what Ethereum\u2019s doing today to what the S&amp;P did in 1987.\u201d<\/p>\n<p>That comparison is doing a lot of work in Lee\u2019s argument. If the 1987 analog holds, he said, Ethereum would have already bottomed on March 7. If the 2011 comparison is the better fit, the <a href=\"https:\/\/www.newsbtc.com\/news\/bitcoin\/nailing-the-bitcoin-bottom\/\" target=\"_blank\" rel=\"noopener \">market is bottoming<\/a> now. In either case, Lee\u2019s conclusion was the same: \u201cSo using his analysis, we think we\u2019re at the bottom or exiting the crypto winter now.\u201d<\/p>\n<p>He did not leave the case resting on chart symmetry alone. Lee also pointed to Ethereum\u2019s realized price, the on-chain metric that estimates the average acquisition cost of coins based on their last movement on the blockchain. In his telling, that figure now sits at $2,241 for ETH, giving investors a way to judge how deeply underwater the average holder has become.<\/p>\n<p>Lee said the pattern at prior lows is revealing. In 2022, Ethereum fell to a 39% discount to <a href=\"https:\/\/www.newsbtc.com\/news\/ethereum\/ethereum-rare-buy-zone-mvrv\/\" target=\"_blank\" rel=\"noopener \">realized price<\/a>. In 2025, the discount reached 21% before ETH turned higher. \u201cCurrently, we\u2019re at 22%,\u201d he said, adding that the market is now sitting in roughly the same zone where last year\u2019s reversal began. \u201cSo we\u2019re at the level where in 2025, Ethereum started to turn higher.\u201d<\/p>\n<p>In other words, Lee\u2019s thesis is that Ethereum does not need a pristine macro backdrop or a fresh narrative cycle to stabilize; it only needs to revisit the kind of holder pain that has historically marked exhaustion. By his measure, that threshold is already here.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">TOM LEE:<br \/>\nTHE ETHEREUM BOTTOM IS IN <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/203c.png\" alt=\"\u203c\" class=\"wp-smiley\" \/><\/p>\n<p>Bitmine x TOM DEMARK mapped ETH against past S&amp;P 500 crash recoveries.<\/p>\n<p>The structure now closely matches 1987 and 2011, both major cycle bottoms.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f539.png\" alt=\"\ud83d\udd39\" class=\"wp-smiley\" \/> 93% correlation to 1987<br \/>\n<img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f539.png\" alt=\"\ud83d\udd39\" class=\"wp-smiley\" \/> Match to 2011 bottom<br \/>\n<img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f539.png\" alt=\"\ud83d\udd39\" class=\"wp-smiley\" \/> Realized price: $2,241<br \/>\n<img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f539.png\" alt=\"\ud83d\udd39\" class=\"wp-smiley\" \/> ETH ~22%\u2026 <a href=\"https:\/\/t.co\/62TZscjChe\" rel=\"nofollow\">pic.twitter.com\/62TZscjChe<\/a><\/p>\n<p>\u2014 BMNR Bullz (@BMNRBullz) <a href=\"https:\/\/twitter.com\/BMNRBullz\/status\/2034647715938771238?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 19, 2026<\/a><\/p>\n<\/blockquote>\n<p>He also tried to zoom out from the immediate drawdown and re-anchor ETH in a longer time horizon. \u201cBefore you lose any hope, keep in mind that over the last 10 years, Ethereum has outperformed every other asset class over the past decade,\u201d Lee said. \u201cIn the last 10 years, Ethereum\u2019s return is 49,000%. That means almost 490 times your money.\u201d<\/p>\n<p>Lee contrasted that with Bitcoin\u2019s 11,000% gain over the same span and even with <a href=\"https:\/\/www.newsbtc.com\/news\/dogecoin\/is-dogecoin-about-to-repeat-nvidias-run-heres-what-the-chart-says\/\" target=\"_blank\" rel=\"noopener \">Nvidia<\/a>, which he called \u201cthe single best stock in the US,\u201d saying it had returned 65 times investors\u2019 money.<\/p>\n<p>At press time, ETH traded at $2,147.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-888262\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/03\/ETHUSDT_2026-03-20_12-02-04.png?resize=1024%2C502\" alt=\"Ethereum price chart\" width=\"1024\" height=\"502\" loading=\"lazy\" \/><\/p>","protected":false},"excerpt":{"rendered":"<p>Tom Lee used a Hong Kong conference stage to argue that Ethereum may be close to a cyclical turn, pointing to historical market analogs and on-chain cost-basis data that, in his view, suggest the selloff has reached exhaustion. Speaking at the 3rd Futu Expo 2026 in Hong Kong on March 13\u201314, Lee said Bitmine advisor [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":38652,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[47],"tags":[],"class_list":{"0":"post-38651","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ethereum"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tom Lee Says Ethereum Looks Ready To Exit Crypto Winter - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=38651\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tom Lee Says Ethereum Looks Ready To Exit Crypto Winter - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"Tom Lee used a Hong Kong conference stage to argue that Ethereum may be close to a cyclical turn, pointing to historical market analogs and on-chain cost-basis data that, in his view, suggest the selloff has reached exhaustion. 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