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Tom Lee Says Quarter-End Portfolio Adjustments Pressured Crypto Prices as Ethereum Fell 8% Last Week

29/06 21:35

Bitmine Chairman Tom Lee said recent weakness in the crypto market was partly driven by institutional portfolio adjustments ahead of the end of the second quarter, which he said created short-term price pressure on cryptocurrencies. According to Odaily, Lee said institutions often reduce exposure to assets that performed poorly during the quarter, and Ethereum fell about 8% last week. Lee said he believes industry fundamentals are improving, citing the formal establishment of Ethlabs and what he described as a more relaxed stance by the Bank of England toward stablecoin regulation. He said he remains optimistic about the crypto sector over the long term and reiterated two growth drivers: continued investment by Wall Street financial capital in crypto infrastructure, and the gradual implementation of AI agent payment systems on blockchain. Lee said Bitmine will maintain a long-term approach and continue to set strategy around these two areas. He added that the company still targets holding 5% of Ethereum’s circulating supply by 2026.

Bullish

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