TLDR
- Industry veterans Tom Lee and CZ indicated optimism about an approaching crypto rally
- CZ shared a meme-format image suggesting the market may soon shift bullish
- Lee responded by challenging investors to evaluate their crypto exposure
- Lee maintains his ambitious long-term forecasts for Bitcoin and Ethereum
- Bitmine continues its weekly Ethereum accumulation strategy
Cryptocurrency market observers turned their attention this week to remarks from Tom Lee and Changpeng Zhao. Lee serves as chair of Bitmine Immersion Technologies, while Zhao founded the Binance exchange. Both figures suggested that bullish momentum may be building in the digital asset space.
BREAKING: Tom Lee says the crypto bull market has started and this one could be bigger than previous bull markets. pic.twitter.com/rwgKY3xe1q
— Ash Crypto (@AshCrypto) September 30, 2026
The online interaction began when Zhao shared an artificially generated image depicting himself. The picture featured him lying in bed, rendered in green night vision tones, with an expression of drowsy astonishment.
The visual referenced a widely recognized internet meme format. Its implication was that market participants might find themselves unprepared when cryptocurrency valuations begin their next upward trajectory.
Zhao’s social media post also reinforced a previous statement highlighting the strong fundamentals underlying BNB Chain. That earlier communication emphasized the sustained growth prospects for the BNB token.
Lee replied to Zhao’s message with a brief but pointed question. His response read, “Agree, do you own enough crypto?”
Valuation Forecasts and Strategic Acquisitions
Lee has publicly stated his conviction that the cryptocurrency market has already entered a fresh bullish phase. He continues to stand by his ambitious projection of $150,000 for Bitcoin.
🇰🇷LATEST: Bitmine’s Tom Lee says “a crypto BULL MARKET is underway.”
Tom Lee at Korea Blockchain Week 2026 outlines his reasons on why a crypto bull market is underway.
“Ethereum has been consolidating for 5 years” he adds. pic.twitter.com/Xd8n0qZIqL
— Coin Bureau (@coinbureau) September 30, 2026
His forecast extends to Ethereum as well, with an expectation that it will climb to $60,000 over the next few years. Lee has consistently reiterated these projections throughout recent months.
Meanwhile, Bitmine has maintained its disciplined approach to accumulating Ethereum. The company acquired 17,362 ETH in the previous week alone.
This latest acquisition brought the firm’s aggregate Ethereum position beyond the 6 million coin threshold. Based on prevailing market rates, that reserve represents a value exceeding $16 billion.
Bitmine has executed Ethereum purchases consistently on a weekly basis since implementing its treasury approach in June of the previous year. The company has adhered to this systematic buying program regardless of market volatility.
Digital asset valuations experienced significant upward movement during September. Bitcoin, Ethereum, and BNB all recorded monthly advances over the thirty-day period.
However, that positive trajectory encountered headwinds during the most recent seven days. Rising Treasury yields exerted downward pressure on cryptocurrency prices.
Bitcoin declined approximately four percent over the week but maintained gains exceeding seven percent for the month. Ethereum and BNB exhibited comparable patterns, with weekly losses offset by monthly appreciation.
Bitmine’s equity also experienced downward movement. The company’s shares decreased modestly in extended trading sessions and concluded Tuesday’s standard market hours in negative territory.
Lee expanded on his market outlook during an appearance at Korea Blockchain Week. He suggested the approaching bull cycle could eclipse all previous market runs in scale.
He referenced crypto-related equities, which have outperformed during the third quarter. Lee interprets this performance as evidence that bullish conditions have already commenced.
He also noted that this cycle appears structurally distinct from earlier periods. Previous bull markets were propelled by initial coin offerings, non-fungible tokens, meme-based cryptocurrencies, and stablecoins.
For this cycle, Lee anticipates that tokenization initiatives, artificial intelligence integration, and improved regulatory frameworks will serve as primary catalysts. He projects the market could experience an unprecedented expansion after an extended period of consolidation.
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