Tom Lee: Oil Price Gains Suppress ETH Short-Term Trend, Structural Drivers Still Point to Strengthening in 2026

Odaily Planet Daily News Bitmine Chairman Tom Lee posted on X platform, stating that the recent selling pressure on Ethereum mainly comes from short-term macro factors, among which the rise in oil prices is the biggest negative disturbance at present. Oil prices have been rising over the past 6 weeks, and ETH has shown an inverse correlation with oil prices at its highest historical level (rising oil prices correspond to ETH declines). If oil prices fall, the price of ETH is expected to recover accordingly.

Tom Lee emphasized that such fluctuations are short-term trading noise, while the long-term core driving force for ETH still lies in asset tokenization and the development of "Agentic AI" applications. He predicts that with the continuous advancement of structural trends, ETH will perform more strongly around 2026.