Bitmine’s Tom Lee supports ‘crypto savant’ behind $5,500 ETH forecast

Tom Lee, co-founder of Fundstrat Global Advisors, continues to back bullish ETH price predictions from Mark Newton, Fundstrat’s technical analyst, who has been actively projecting the token’s moves this cycle. 

Lee is once again in the spotlight for his endorsement of a set of predictions made by Mark Newton, Fundstrat’s technical analyst and a self-described “crypto savant” famous for his precise chart-based forecasts that have allowed him to accurately catch several ETH bottoms and rallies this year. 

Lee shared some of those predictions on his profile recently as if to reassure any traders worrying that ETH may have topped. 

“I do not make much of Crypto weakness in recent days, and expect $ETHUSD likely bottoms out over the next 1-2 days before heading back higher and rallies to $5500,” he posted, quoting the analyst he described as a “crypto savant.” 

“Following a recent strong technical rally from 9/25 into 10/7 in ETHUSD, there’s been a minor three-wave pullback, which is expected to likely end by 10/11 and turn back higher.”

Crypto savant @MarkNewtonCMT at it again:

"I do not make much of Crypto weakness in recent days, and expect $ETHUSD likely bottoms out over the next 1-2 days before heading back higher and rallies to $5500.  

– Following a recent strong technical rally from 9/25 into 10/7 in… pic.twitter.com/LCQDtGpDXs

— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) October 9, 2025

Tom Lee backs bullish Ethereum analysis

Mark Newton noted that ETHUSD has already done a 50% correction of the recent rally from 9/25, but is still expected to potentially hit $4,200-$4,220, an area that is supposed to be an optimal zone of support before ETH’s next leg up. 

However, other analysts believe it could take some more weeks before the bull market support band catches up. The token has already broken all-time highs above $5,000 in August, which has been its best month of 2025 so far. 

Even if choppy action persists for a while longer, nobody thinks reclaiming $5,000 is impossible, especially not Lee. In fact, Lee has repeatedly shared expectations for Ethereum in interviews, predicting it could reach $60,000 as an intermediate target by matching Bitcoin’s network value.

He also expects that move to happen within the next five years, framing it as part of Ethereum’s longer-term supercycle driven by institutional adoption, tokenization of real-world assets, and staking by Wall Street firms. 

Tom Lee maintains conviction in Ethereum

Tom Lee was a big fan of Bitcoin before many were and now that the world has woken up to BTC’s merits, he has pivoted to ETH where he expects to make even more money provided his wager pays off. 

Lee has been very bullish about Ethereum (ETH) throughout 2025, particularly through his role as chairman of BitMine Immersion Technologies. The company used to be focused on Bitcoin mining but has shifted focus to building the world’s largest corporate ETH treasury, aggressively accumulating over 2.4 million ETH since then.  

It aims for 5% of Ethereum’s total supply under what Lee calls the “Alchemy of 5%” which would position BitMine as a corporate parallel to Bitcoin treasuries like Michael Saylor’s Strategy. 

The company has now accumulated about 50% of the target, becoming the second-largest crypto treasury globally along the way with a total asset vault of $11.4 billion. 

Lee’s conviction is already being rewarded; his company stock jumped by 3,000% in the days after the ETH pivot announcement and it has gained clout as Ethereum’s Strategy. However, the real short-term win will be when ETH starts trading above $5,000, permanently.

If you're reading this, you’re already ahead. Stay there with our newsletter.