🐳 Daily Edition: Tom Lee Predicts ETH Bottom

When the guy buying billions of dollars in ETH tells you to buy, it's probably a good idea to listen

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Beluga & Will McKinnon
August 20, 2025

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It seems the crypto market found a local bottom yesterday as Ethereum has returned to about $4,350, a 7% bounce from the lows. 20% drawdowns are never fun, but the reality is this is how the crypto markets tend to behave and it’s probably healthy in the long run. Interestingly, Ethereum looks to have rebounded from almost the exact price Bitmine (the largest ETH Treasury Company) Chairman Tom Lee shared in a Tweet on Monday — with how much of a self-fulfilling prophecy technical analysis can be, it’ll be interesting to watch how the market reacts to his price targets going forward.

24 Hour Heatmap, Source: CoinMarketCap

As crypto prices do their thing, digital assets continue to become more ingrained in the US government and entities associated with it. The Trump family is one of those entities, as Eric Trump has become somewhat of a meme among traders for his constant bull-posts. After lots of Tweets shilling Ethereum over the last several months, Eric proclaimed today that there is ‘No Question’ Bitcoin will be worth $1M some day. While I don’t necessarily agree with his methods, it’d be a mistake to underestimate the impact the family of the President can and will have on prices.

Chess not Checkers

Disclaimer

The content on this site is for informational purposes only and should not be construed as investment advice. While Beluga strives to ensure the accuracy and timeliness of information, there may be discrepancies when comparing our data to that of financial institutions, service providers, or specific product websites. Always consult with a professional before making any financial decisions.
Will McKinnon is the Head of Content for Beluga and has spent every day for many years trading coins. For that reason there are too many to name, however his largest holdings by a significant margin are Ethereum and Bitcoin. NFA DYOR