Tom Lee: ETH May Bottom Around $2,400, Long-Term Target Could Point to $12,000

Odaily News Tom Lee expressed overall optimism about cryptocurrencies during a podcast this Friday. He believes that despite short-term declines (such as speculative funds flowing into precious metals), the long-term bull market is still in its early stages (a decade-long bull market starting from 2022). The current crypto market is in a bearish phase, facing significant short-term pressure. ETH may touch $2,400 as a bottom (Ethereum briefly hit a low of $2,200 today and is now around $2,400), and then rebound. If the ETH/BTC ratio returns to its historical high, ETH could reach around $12,000.