In Paris, during Blockchain Week 2026, Tom Lee delivered an analysis that contrasted with the prevailing sentiment. According to him, the recent bearish phase is already coming to an end. Better yet, the analyst anticipates a marked turnaround, driven in particular by Ethereum. Between macroeconomic reading and ambitious projection, this position revives expectations about the next phase of the crypto cycle.
In brief
- Tom Lee says the mini crypto winter is already over, marking a possible market low.
- His analysis is based on a macroeconomic reading where markets rebound after an accumulation of bad news.
- The asset would emerge from a major consolidation phase, paving the way for a new bullish cycle.
- Tom Lee envisions an ambitious scenario with Ethereum heading towards $60,000, or even a theoretical valuation of $62,000.
A mini crypto winter already over according to Tom Lee
While he has already anticipated Ethereum going beyond $60,000 for several weeks, Tom Lee was particularly assertive in front of the Parisian public. According to him, the recent correction does not resemble a real bear market, but rather a transitional phase: a mini crypto winter already fading.
To support his analysis, he referred to the behavior of traditional markets. So, he has asserted that “Stock markets hit their low point when bad news accumulates. And there was no shortage of these”. This macroeconomic reading indicates that the low point has already been reached, despite an environment marked by multiple tensions and uncertainties.
Several concrete elements support this analysis:
- Ethereum shows 43% decline since October 2025;
- Its price fluctuates around $2,300;
- The estimated average production cost for some actors reaches $3,660;
- The crypto market is going through a qualified phase “unusual” due to its decorrelation with the stock markets.
This data reflects significant pressure on the asset, while reinforcing the idea of a low point potentially already reached in an atypical market context.
Ethereum driven by new structural engines
Beyond the simple observation of the end of the cycle, Tom Lee projects a much more ambitious trajectory for Ethereum. He believes that the asset leaves a “massive consolidation”a prolonged accumulation phase which could precede a significant upward movement.
This reading is based on the emergence of new uses, notably the tokenization of assets and the development of artificial intelligence agents operating directly on-chain.
From this perspective, its valuation scenario is intended to be particularly daring: Ethereum would be “probably on the way to $60,000”. He even mentions an estimate of “theoretical value” to $62,000 if the asset reaches 25% of the long-term value of bitcoin. This approach is based on a relative comparison between the two assets, integrating the adoption potential and technological developments specific to the Ethereum ecosystem.
Such a projection opens a field for reflection on the structure of the next crypto cycle. If the drivers mentioned by Tom Lee are confirmed, Ethereum could establish itself as a central pillar of digital infrastructure linked to AI and tokenized finance. It remains to be seen whether the market will validate this ambitious vision or demand concrete evidence of adoption before fully pricing this scenario.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
