Fundstrat's Tom Lee reportedly said on Wednesday that cryptocurrency prices have“likely bottomed” and predicted that the Ethereum (ETH) to Bitcoin (BTC) ratio is going to have a breakout soon.

Speaking at Binance Blockchain Week, the chairman of Bitmine Immersion Technologies (BMNR) also forecast that Bitcoin is likely to make new highs in early 2026 and that 200x adoption lies ahead. According to him, Bitcoin's price could hit $300,000 by the end of next year.

Bitcoin's price remained steady at $93,000 in early morning trade, edging higher by 0.3% in the last 24 hours. The apex cryptocurrency remains over 25% below its record high of over $126,000 seen in October. On Stocktwits, retail sentiment around BTC trended in 'bearish' territory over the past day, accompanied by 'normal' levels of chatter.

Meanwhile, Ethereum's price led gains among the major tokens, rising 4.5% in the last 24 hours to nearly $3,200. On Stocktwits, retail sentiment around the altcoin improved to 'neutral' from 'bearish' territory over the past day amid 'normal' levels of chatter. 

Tom Lee-backed Bitmine is currently the largest Ethereum digital asset treasury (DAT) in public markets, according to CoinGecko. BMNR's stock edged 0.8% higher in pre-market trade, with retail sentiment also improving to 'neutral' from 'bearish' territory with chatter at 'normal' levels over the past day. 

"Crypto prices likely bottomed. The best years of growth are still ahead: there is 200x adoption to come."

– Tom Lee, Chairman, Bitmine Immersion Technologies

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