BitMine Stock Plunges 7% Amid Trader Exodus - But Tom Lee Declares Ethereum ’Supercycle’ Just Getting Started

BitMine investors hit the panic button as shares tumble 7% - classic profit-taking or something more ominous?

The Great Cash-Out

Traders are dumping positions faster than a hot potato, triggering the sharpest single-day decline in weeks. The sell-off reflects typical market jitters - everyone wants to be first to the exit when momentum stalls.

Lee's Bullish Counterpunch

Fundstrat's Tom Lee remains unshaken, doubling down on his Ethereum supercycle thesis. He sees the current dip as mere turbulence before the real ascent begins. 'This isn't the endgame - it's the warm-up act,' Lee insists, pointing to fundamental drivers that remain intact.

Supercycle or Super-hype?

The Ethereum ecosystem continues evolving at breakneck speed, but Wall Street's attention span remains shorter than a crypto trader's memory. Lee argues institutional adoption patterns suggest we're still in early innings, while skeptics note we've heard this song before - usually right before the music stops.

When analysts and market movements clash this dramatically, someone's about to look very smart - or very foolish. In crypto, the line between visionary and bagholder has always been thinner than a blockchain transaction fee.

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Investors Take Profits after a Rapid Run

The selling pressure appears to be a classic flush rather than a shift in the fundamental story. BitMine’s stock is still up more than 330% year-to-date, even after a 38% slide over the past month. Traders who rode that surge had plenty of incentive to ring the register as ethereum spent the last week testing support near $2,500. The company’s aggressive accumulation strategy made it a high-beta proxy for ETH itself, and volatility tends to exaggerate every move.

Tom Lee, who leads BitMine’s treasury strategy, has been blunt about the current market environment. He said recent weakness reflects deteriorating liquidity and the same bearish chart signals seen since early October. He also argued that ETH’s slide toward $2,500 puts the downside in a narrow 5% to 7% range while the upside remains tied to what he calls a “supercycle ahead for Ethereum.” That framing helps explain why long-term holders are unfazed even as short-term traders hit the exits.

BitMine Builds Toward Its Next Catalyst

Despite the pullback, BitMine’s core numbers keep building. The firm now holds more than 3.6 million ETH, equal to roughly 3% of the supply, and management says the company remains on track to reach its 5% target. Fiscal 2025 net income reached $328 million, and the company plans to roll out Ethereum staking through its new MAVAN infrastructure early next year.

These catalysts matter because Monday’s drop did not come with any fundamental shift. It came because the market has been stretched, the stock had run ahead of itself and fast-money traders saw a chance to cash out. With BitMine still climbing toward its accumulation goal and new revenue streams approaching, long-horizon investors will see this as noise, not a narrative break.