Key Takeaways

Bitmine Chairman Tom Lee said the crypto market may be nearing the end of a “mini crypto winter,” even as investor sentiment around Ethereum remains weak.

His comments came as Bitmine disclosed it had purchased another $120 million in Ethereum, increasing its already sizable holdings as the price surged slightly over the past week.

In a March 9 press release, Lee said Ethereum’s recent price behavior suggests the market could be approaching a turning point after months of volatility and macroeconomic pressure.

“Ethereum prices showed resilience this week, in the face of rising war concerns and surging oil prices,” Lee said.

Lee cited analysis from Bitmine advisor Tom DeMark of DeMark…