Bitcoin stands back at $92,000》Bitwise Chief Investment Officer shouts BTC’s historical buying point, Tom Lee: ETH will bottom out this week and counterattack

Bitcoin once fell below US$90,000. Tom Lee and Matt Hougan bucked the trend and called out the "generational buying point" to analyze the bottom signals and the market outlook.
(Preliminary summary: BitMine added 110,000 Ethereum, and the total position exceeded 3.5 million! The account suffered a floating loss of 1.66 billion U.S. dollars. The more it fell, the more it bought)
(Background supplement: Bitmine struggled to sustain a floating loss of 1.3 billion U.S. dollars, will Tom Lee’s Ethereum gamble collapse across the board?)

Bitcoin fell to its lowest level yesterday (18th) 89,000 US dollars, Ethereum lost 3,000 US dollars, and market panic broke out. The market has temporarily rebounded in the past 12 hours, with BTC back above $92,000 and Ethereum back above $3,100. Just as retail investors shouted that the bears are coming, Tom Lee and Bitwise's chief investment officer said at the same time: "The bottom is near." Lee: ETH will counterattack at the bottom this week">

Tom Lee: Technical and on-chain data point to ETH "bottoming this week"

Tom Lee, leader of BitMine, the largest Ethereum reserve company, pointed out in the latest client report that the third week of November may become the bottom of ETH in 2025. He emphasized that the total value locked (TVL) of the Ethereum network has approached 50% of its market capitalization, which is usually a precursor to a reversal.

At the same time, a bullish falling wedge appears on the ETH price chart, and Lee believes that similar patterns in the past have "extremely high hit rates." He bluntly stated in an internal meeting:

"In the past, this type of technical combination often marked cycle lows, and we believe that the probability of completing a bottom this week is high."

Lee also mentioned that the large-scale liquidation on October 11 led to a short-term liquidity crunch, suppressing prices, but "the effect usually only lasts a few weeks." If U.S. stocks rebound before the end of the year as corporate profits pick up, he expects Bitcoin to quickly regain its lost ground.

Matt Hougan: Below $90,000 is a “generational” buying point

Bitwise chief investment officer Matt Hougan agreed with Lee’s judgment and described $90,000 as a “once-in-a-lifetime long-term opportunity” in an exclusive interview with NewsBTC. He pointed out that in the past two weeks, retail investor sentiment indicators have fallen to two-year lows, which is "a typical reverse signal."

Hougan believes that compared with the strong gold trend in 2025, Bitcoin still has room to make up for its gains. At the same time, he added that the current lack of a crazy rebound in the market is "instead healthy" and can reduce the risk of a deep correction in early 2026. Therefore, institutional funds take advantage of the panic of retail investors to find bargain hunting positions, "which can not only lock in long-term returns, but also prepare for next year's potential bull market in advance."

If Tom Lee’s “bottom this week” and Hougan’s “generational buying point” are realized simultaneously, BTC below $90,000 may really be a short-term discount opportunity for Bitcoin. For long-term investors, when the market is bottoming out in fear, it is the time to consider re-examining allocations and entering the market calmly.