Amid the market’s scary drop, a clear message is emerging from the experts: now is the time to buy the dip. Tom Lee, chairman of BitMine, is leading the charge, calling this pullback a “golden opportunity” for investors. His firm is backing this belief with action, moving over 177,234 ETH—worth $698 million—into its wallets during the downturn.
Why Buy The Dip Now
Lee isn’t just relying on hope. He points to hard data, noting that only 22% of fund managers are currently beating the market. This means most are underperforming and will soon feel pressure to jump back in, which could quickly fuel a rebound. His advice was blunt: “BTFD — that’s our take,” a trader’s phrase for buying during fear.
The positive news isn’t limited to crypto. Federal Reserve Chair Jerome Powell hinted at potential rate cuts, citing a weaker job market. This could inject fresh liquidity into risk assets like crypto, supporting the case to buy the dip.
Mixed Signals and Key Levels to Watch
Despite the bullish calls, caution signs remain. Ethereum’s trading volume fell 25% during its recent bounce, suggesting weak momentum. More alarmingly, the Korea Premium Index hit 8.2%, a level that has historically signaled local tops as Korean retail traders FOMO in.
Technically, Ethereum is battling in a crucial zone between $3,870 and $3,920. A clean break above could send it toward $4,400, while a rejection might lead to a retest of $3,600. However, a mysterious whale accumulated over 4,300 ETH ($17 million) during the dip, showing big money is betting on a recovery.
My Thoughts
When giants like Tom Lee put half a billion dollars behind their words, it’s a powerful signal. The combination of institutional accumulation and a potentially dovish Fed creates a strong bull case. While the Korea Premium is a red flag, it often marks short-term tops, not the end of a bull market. For regular investors, this might be one of those scary moments that pays off handsomely for those who stay calm.
