Tom Lee Sees Crypto Pullback, Urges Investors to Buy the Dip

BitMine chairman Tom Lee says the recent dip in the crypto market is a “golden buying opportunity” for investors. His comments come as President Trump confirmed plans to meet with China to discuss U.S. tariffs.

In a recent post, Lee urged investors to stay calm despite the market correction. He noted that concerns over tariffs, credit market deleveraging, and October’s usual volatility have caused fear among traders. However, he believes the negative sentiment may actually signal a good time to buy.

Lee also pointed out that only 22% of fund managers are beating their benchmarks this year, suggesting many could soon start “chasing performance.” This, he said, might fuel a rebound in crypto prices. “BTFD — that’s our take,” Lee wrote, implying that the current downturn is just a setup for the next rally.

Backing his optimism, BitMine recently added $417 million worth of Ethereum to its portfolio, moving over 104,000 ETH from Kraken and BitGo into new wallets. The move highlights the firm’s confidence in Ethereum’s long-term growth.

Tom Lee Predicts Ethereum Surge as Trump Plans Tariff Reset

During a podcast, Lee said Ethereum is entering a new expansion phase and could reach between $10,000 and $12,000 by the end of 2025. His outlook mirrors that of BitMEX co-founder Arthur Hayes, who also described the recent volatility as “just background noise.”

Trump said he plans to meet China’s President Xi Jinping in two weeks to discuss lowering U.S. tariffs, calling the current ones “not sustainable.” He suggested a possible reset to achieve a “fair deal,” which could ease market pressure.

At the same time, Federal Reserve Chair Jerome Powell hinted at upcoming rate cuts, citing weak job growth and low inflation. The crypto market reacted with high volatility, leading to over $1 billion in liquidations — $369 million from Bitcoin and $262 million from Ethereum. Analysts believe these developments could help stabilize markets once resolved.