BitMine Immersion Technologies Inc. (NYSE:BMNR) Chair Tom Lee said on Saturday that the ongoing “cryptocurrency winter” is nearing its end, with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) close to hitting their lows.
Lee Says End Is Near
During an interview, Lee cited Tom DeMark, BitMine’s advisor on timing, who suggested that Bitcoin might find support at $60,000 and Ethereum could bottom out at around $1,890.
“I think it touched it to the penny. He thinks we just have to undercut it once more, and that’s the low. meaning we’re really close to the end,” the Fundstrat co-founder said.
Lee further stated that the crypto winter could end as soon as April if it hasn’t already.
Crypto Recovery To Be Slow And Painful?
Lee’s predictions come in the wake of a tumultuous period for cryptocurrencies, where prices plunged to multi-month lows. Bitcoin, for instance, has tumbled 45% from its all-time high in October.
Last week, Fidelity’s Jurrien Timmer also called Bitcoin’s $60,000 low the cycle bottom.
Influential cryptocurrency traders have ruled out a sharp V-shaped recovery for the apex cryptocurrency, instead projecting a “slow, grinding” rebound.
Lee’s Previous Projections
Lee’s latest prediction follows his earlier 2026 cryptocurrency outlook. Back in January, he forecasted a 10-15% pullback due to White House and Fed policy risks.
Notably, Fundstrat faced backlash over conflicting Bitcoin predictions from its analysts last year.
Sean Farrell, Fundstrat’s head of digital asset strategy, indicated a base case where bitcoin might retrace to the $60,000–$65,000 range in early 2026. Conversely, Lee’s comments suggested Bitcoin could reach new all-time highs by early 2026
Price Action: At the time of writing, BTC was exchanging hands at $68,727.32, down 2.06% in the last 24 hours, according to data from Benzinga Pro.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo Courtesy: Alexandru Nika on Shutterstock.com
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