Tom Lee: Bull Market Has Begun, Ethereum May See Strong Surge in Q4

Tom Lee, chairman of the cryptocurrency treasury company Bitmine, stated that the cryptocurrency bull market began at the end of June, driven by multiple factors including the rotation of funds from AI to the crypto market, the strengthening of the crypto industry's fundamentals related to tokenization and AI, and the end of the four-year cycle. The performance advantage of ETH as a macro asset continues to expand, and it is expected to significantly outperform other macro assets in the third quarter of 2026, indicating a stronger surge in the fourth quarter of 2026. Due to the low allocation ratio of institutional investors to crypto assets in 2026, it is anticipated that institutions will significantly increase their exposure to crypto assets in the last three months of 2026, which may provide further upward space for the gains since June 30.

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