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- Gate July 2025 Transparency Report:
Accelerating Leadership in the Global Crypto Landscape!
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Billion-dollar Ethereum investor Tom Lee: The pullback is healthy.
According to Tom Lee, the chairman of BitMine, a company that has bought over 1.5 million ETH in the past 1.5 months, the current pullbacks should not cause panic among investors. Lee stated that pullbacks would be healthy for an ETH that has significantly appreciated in value, especially since the end of June.
The cryptocurrency market is in decline as it awaits a speech by Fed Chairman Jerome Powell at Jackson Hole on Friday. Bitcoin has pulled back to as low as 113,000 dollars today, and the second largest cryptocurrency, Ether, has seen a decline, reaching 4,133 dollars.
"Investors are in wait mode"
Lee suggested that investors are in a wait-and-see mode due to Jackson Hole. The well-known figure on Wall Street stated in a general evaluation of the markets, "In my discussions, most institutional investors expect Powell to adopt a 'hawkish' stance because he does not want to be forced into a rate cut on Friday. This is already seen as the base scenario. On the other hand, the probabilities increase the likelihood that his upcoming statements will be perceived as 'dovish' by the markets."
Lee also added that a rally in stocks could be seen after Jackson Hole on Friday.
YOU MAY BE INTERESTED – SEC's decision to postpone 8 crypto ETFs
Published: August 19, 2025 21:02