Ethereum Poised for $20K Run, Says Fundstrat’s Tom Lee at Binance Event

• Tom Lee predicts Bitcoin could reach $300,000 next year and says Ethereum may surge above $20,000.
• Analysts see strong technical signals for ETH as the asset forms a W-bottom pattern near $3,200.

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Fundstrat’s Tom Lee renewed his bullish expectations for Bitcoin and Ethereum at Binance Blockchain Week, saying that both of the assets are set for a stronger run as market structure changes. He reiterated the traditional cycle of four years fading and that Bitcoin could reach new highs in early 2026. 

Moreover, he expects BTC price to track the S&P 500’s trajectory next year and approach $300,000 if macro conditions remain supportive. Lee added that such a move would strengthen Ethereum’s position, suggesting ETH could surge beyond $20,000 in the same period.

Could Ethereum Be Warming Up for a Bigger Move?

Ethereum’s long consolidation shaped much of Lee’s argument. He emphasized that the network underpins most tokenization activity, with more than 70% of real-world asset value currently operating across Ethereum, its layer-2s, and EVM-compatible platforms. According to him, the extended multi-year price range has created a “base” that often precedes larger breakouts, reinforcing his decision to reposition BitMine as an ETH-focused treasury.

He reiterated a long-held view that Ethereum will evolve into a primary financial settlement layer. If ETH moves toward a 0.25 ratio relative to Bitcoin, he suggested a theoretical price near $62,000, underscoring his belief that the current $3,000 level remains undervalued. Lee said, “I think Ethereum is going to become the future of finance, the payment rails of the future, and if it gets to 0.25 relative to Bitcoin, that’s $62,000. Ethereum at $3,000 is grossly undervalued.”

His comments came as BitMine appeared to accelerate accumulation, conducting multiple large purchases in recent days. As we reported yesterday, four acquisitions were made this week, including roughly 41,946 ETH, valued at $131 million, on Thursday. Onchain flows via BitGo and Kraken also pointed to sizable inflows, signalling a consistent strategy, though BitMine has not officially confirmed the transactions.

Traders Renewed Interest in ETH Valuation

Beyond institutional accumulation, market analysts pointed to technical signals hinting at stronger price movement. Via X, analyst Sykodelic noted a historical pattern in which ETH rallies sharply whenever its daily RSI transitions from overbought to oversold and breaks its trend. According to that analysis, previous moves produced gains of at least 45%, which would place ETH near $4,300 if conditions repeat.

Source: Crypto analyst Sykodelic on X

As of press time, Ether is trading at $3,131 after briefly testing $3,200. It has gained 13% over the past two weeks and appears to form a W-shaped recovery following two dips below $3,000. 

Bitcoin remained stable at 91,292, edging up by 2.32% over the last 24 hours but still sitting more than 27% below its October peak of $126,000. Meanwhile, Ethereum led major-cap gains in the same window, rising 4.5% and lifting the ETH-BTC ratio to 0.034, a 3.9% daily increase. A stronger ratio typically signals that ETH is outperforming and may continue to attract attention as institutional flows build.

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