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Crypto writer
Arslan Butt
Crypto writer
Arslan Butt
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Bitcoin (BTC) is trading around $103,768, down 3.22% in the last 24 hours, with a market capitalization of $2.07 trillion. Despite the recent fall, veteran Wall Street strategist Tom Lee remains confident that Bitcoin will reach new highs before the end of the year.
Tom Lee Backs Crypto Recovery as BitMine Expands $12.5B Ethereum Holdings
Lee, who also serves as president of BitMine Immersion Technologies (BMNR), sees the current correction as a healthy reset after last week’s volatility. “The market is consolidating,” he explained. “The fundamentals of Ethereum and Bitcoin are stronger than ever, stablecoin volumes are growing, and blockchain revenues are at record levels.”
BitMine’s aggressive expansion supports his optimism. The firm recently added 82,353 ETH, worth more than $294 million, bringing its total Ethereum holdings to 3.39 million ETH, or 2.8% of Ethereum’s circulating supply. At current prices, this is almost $12.5 billion, making BitMine one of the largest institutional holders of crypto.
Lee predict Bitcoin could rally towards $150,000-$200,000, while Ethereum could climb to $7,000, fueled by institutional adoption and renewed capital flows into the crypto infrastructure.
Bitcoin (BTC/USD) Faces Technical Pressure
From a technical point of view, Bitcoin is under pressure after breaking under a symmetrical triangle pattern that has been forming since mid-September. The breach suggests a continuation to the downside, especially after several failed attempts to recover the resistance near $111,000.
Recent candles show a series of wide red bars, which signal strong selling conviction. The 50-day EMA remains below the 200-day EMA, forming a bearish alignment. Meanwhile, the RSI close to 30 shows oversold conditions, but there is still no bullish divergence, which means a downward momentum could persist.
Key support zones are now at $103,500 and $100,250. A daily close below $103,400 could push BTC towards the psychological level of $100,000, an area where institutional buyers could intervene.
Dip-Buy or more disadvantage?
For traders, the current price zone presents both opportunity and caution. Short-term strategies include:
- Selling the retest around $106,300 – $107,900, with stops above $111,000 and targets near $103,500 – $100,250.
- Bought confirmation of a bullish engulfing candle above $108,000, supported by increasing volume, for a potential recovery towards $111,000.
Despite short-term pressure, the macro outlook remains constructive. As liquidity improves and institutional flows return, Bitcoin could stage a sharp reversal, aligning with Lee’s call for new all-time highs by the end of the year.
For investors, this pullback may be the kind of “reset moment” that historically precedes Bitcoin’s biggest rallies.
Bitcoin Hyper: The Next Evolution of BTC on Solana?
Bitcoin Hyper ($ HYPER) brings a new phase to the Bitcoin ecosystem. While BTC remains the gold standard for security, Bitcoin Hyper adds what was always missing: Solana-level speed.
Built as Bitcoin’s first native Layer 2 powered by the Solana Virtual Machine (SVM), it combines Bitcoin’s stability with Solana’s high-performance framework. The result: lightning-fast, low-cost smart contracts, decentralized apps, and even meme coin creation, all secured by Bitcoin.
Audited by Consultthe project emphasizes reliability and scalability as adoption develops. And the momentum is already strong. The presale exceeded $25.7 million, with tokens priced at just $0.013215 before the next increase.
As Bitcoin activity grows and the demand for efficient BTC-based applications increases, Bitcoin Hyper stands out as the bridge that connects two of the largest crypto ecosystems. If Bitcoin built the foundation, Bitcoin Hyper could make it back fast, flexible and fun.
Click here to participate in the Presale
