Tom Lee and his bet on Ethereum are back in the headlines this time after reports of a new $281 million purchase left cryptocurrency traders wondering what he sees next for Ethereum.
Tom Lee immersed himself in BitMine It is said It bought 72,898 ether, worth about $281 million, in the past 24 hours.
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Tom Lee’s Bitmine Immersion just bought $281 million worth of Ethereum. pic.twitter.com/sdzhLhj9N5
— Ash Crypto (@Ashcryptoreal) October 18, 2025
Bitmain’s Ethereum holdings rose to 3.03 million ETH, about 2.5% of the total circulating supply, after adding nearly 202,000 tokens since October 6.
BitMine provided its latest holdings update on October 13, 2025:
$12.9 billion in total cryptocurrencies+ "Moon shots":
– 3,032,188 Ethereum at $4,154 per Ethereum (Bloomberg)
– 192 Bitcoin (BTC)
– $135 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and
– Not burdened…— Bitmain (NYSE-BMNR) $ETH (@BitMNR) October 13, 2025
Analysts noted that there are no visible transaction hashes, wallet addresses, or regulatory filings to verify the purchase. BitMine has not commented publicly on this claim.
according to koenjiku data, Ethereum traded around $3,830 to $3,870 on Friday, posting a slight daily gain of +0.8% but still below its early October highs.
(source: Koenjiku)
The token remains under pressure after last week’s sharp correction, when the Oct. 10-11 liquidation wave, the largest in cryptocurrency history, briefly pushed prices to the mid-$3,400s.
Market watchers say investors like Lee appear to be accumulating during the weakness, betting that Ethereum’s long-term fundamentals will outweigh short-term volatility.
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What does the $4,400-4,800 liquidity zone mean for Ethereum’s next step?
Ted cryptoanalyst He says Ethereum’s next move depends on how it reacts to a large liquidity pool between $4,400 and $4,800.
There is a huge liquidity block for $ Ethereum Around the $4400-$4800 level.
If a trade agreement is reached between the US and China, Ethereum could benefit from this liquidity reason.
Otherwise, the price will fall towards the $3,200-$3,400 level before reversing. pic.twitter.com/z2RiHuGM8s
– Ted (@TedPillows) October 18, 2025
The chart shows heavy sell orders stacked up in this range, which is a sign that many traders are preparing to exit or sell near those levels.
(source: X)
Ethereum’s recovery from below $3,600 lost ground around the mid-$4,000 region. The chart shows a possible double top formation near $4,600, followed by a pullback.
On the downside, new liquidity is starting to accumulate around $3,200-$3,400, indicating strong buying interest if prices decline again.
Ted said that if a trade deal is concluded between the US and China, Ethereum could reach the upper range near $4,800 as short positions begin to close.
But if market sentiment weakens, ETH may pull back towards lower support before finding a base.
Right now, Ethereum is between two major liquidity zones, one above, one below, and which one breaks first could set the tone for the next big move.
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Ethereum Price Prediction: Will ETH’s Current Correction Create a Double Bottom at Around $3,300?
Cryptocurrency Analyst Tony subscriber A cautious but optimistic view on Ethereum (ETH) in its latest market update on X.
$ Ethereum / US dollars – to update
This is what I look for in Ethereum as a best case scenario. Another test of the bottoms and the double bottom. From higher levels we see a corrective movement instead
The macro forecast tells me that we are in the middle of a macro corrective move. pic.twitter.com/dVqYIL9kNs
– Crypto Tony (@CryptoTony__) October 18, 2025
Its chart shows that ETH is likely in a corrective phase, rather than a complete trend reversal.
According to Elliott Wave analysis, Ethereum is moving within a W–X–Y corrective structure, which is often seen before the recovery phase.
(source: X)
The coin is currently trading near $3,870, and Tony expects another test of the $3,300-3,400 range, an area that could represent a double bottom formation, a classic signal of seller exhaustion and a potential reversal.
He pointed out that the expected bottom of wave (b) is proportional to the ongoing correction, indicating a final decline before a rebound.
His chart shows a potential move towards $5,000 by late Q4 2025 or early 2026 once Ethereum builds a base at lower levels.
The broader structure remains “corrective but stable,” the analyst added, suggesting the recent weakness may be part of a larger bull cycle that remains intact.
If buyers come back around the support, he believes ETH could soon return to recovery mode.
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