The post Can Ethereum’s ‘supercycle’ endure Bitmine’s $3.19B drawdown? appeared on BitcoinEthereumNews.com. Key Takeaways Is Ethereum nearing a market bottom? ETH’s 30-day MVRV at –15.4% places it in Santiment’s “Extreme Buy Zone,” a level that often aligns with reversal setups. Is Bitmine’s massive $3.19B paper loss a risk or an opportunity? Its 3.56M ETH position will amplify a rebound, but adds pressure if ETH drops further. Ethereum’s [ETH] slide has pushed wallets into deep red, with average 30-day returns dropping another 15.4%. The last time ETH suffered an identical collapse, it was followed by the biggest breakouts of the decade. Now, with Tom Lee’s Bitmine sitting on a $3.19 billion paper loss after months of accumulation, the pressure – and the potential – has only grown. This can go either way. ETH enters extreme buy zone Ethereum’s 30-day MVRV fell to -15.4%, placing it firmly in Santiment’s “Extreme Buy Zone.” This level indicates market bottoms and reversal setups. The chart showed ETH sliding deeper into loss territory than Bitcoin [BTC] and Ripple [XRP], both of which sat in the milder “Good Buy Zone.” Cardano [ADA] and Chainlink [LINK] were also showing extreme retail losses. Source: Santiment For ETH specifically, this level of unrealized pain has only appeared during major turning points. While it doesn’t guarantee a bounce, it means most short-term wallets are already underwater. This is where sentiment can flip fastest. Bitmine buys meet a $3.19 bln loss As Ethereum sinked into extreme-loss territory, Tom Lee’s long-term thesis is being tested in real time. On CNBC, Lee doubled down on Ethereum’s role in what he calls a “supercycle”. He said the asset isn’t just another crypto but the core rails where stablecoins, prediction markets, tokenized assets, and the next wave of digital infrastructure will be built. He argued that these secular trends continue regardless of short-term macro fear. Source: X His… The post Can Ethereum’s ‘supercycle’ endure Bitmine’s $3.19B drawdown? appeared on BitcoinEthereumNews.com. Key Takeaways Is Ethereum nearing a market bottom? ETH’s 30-day MVRV at –15.4% places it in Santiment’s “Extreme Buy Zone,” a level that often aligns with reversal setups. Is Bitmine’s massive $3.19B paper loss a risk or an opportunity? Its 3.56M ETH position will amplify a rebound, but adds pressure if ETH drops further. Ethereum’s [ETH] slide has pushed wallets into deep red, with average 30-day returns dropping another 15.4%. The last time ETH suffered an identical collapse, it was followed by the biggest breakouts of the decade. Now, with Tom Lee’s Bitmine sitting on a $3.19 billion paper loss after months of accumulation, the pressure – and the potential – has only grown. This can go either way. ETH enters extreme buy zone Ethereum’s 30-day MVRV fell to -15.4%, placing it firmly in Santiment’s “Extreme Buy Zone.” This level indicates market bottoms and reversal setups. The chart showed ETH sliding deeper into loss territory than Bitcoin [BTC] and Ripple [XRP], both of which sat in the milder “Good Buy Zone.” Cardano [ADA] and Chainlink [LINK] were also showing extreme retail losses. Source: Santiment For ETH specifically, this level of unrealized pain has only appeared during major turning points. While it doesn’t guarantee a bounce, it means most short-term wallets are already underwater. This is where sentiment can flip fastest. Bitmine buys meet a $3.19 bln loss As Ethereum sinked into extreme-loss territory, Tom Lee’s long-term thesis is being tested in real time. On CNBC, Lee doubled down on Ethereum’s role in what he calls a “supercycle”. He said the asset isn’t just another crypto but the core rails where stablecoins, prediction markets, tokenized assets, and the next wave of digital infrastructure will be built. He argued that these secular trends continue regardless of short-term macro fear. Source: X His…