Tom Lee: ETH may already be close to the bottom range, and after eight historical 50% declines, it has always recovered in a V shape.

ChainCatcher News, Bitmine Chairman Tom Lee stated that Ethereum may experience a new V-shaped rebound after a recent decline, and it may already be close to the bottom range. He pointed out that since 2018, Ethereum has gone through 8 decline cycles with drops of more than 50%, and all 8 have rebounded at similar speeds and achieved 100% recovery.

Despite the price being under pressure, on-chain data shows that ETH staking demand remains strong. Currently, the waiting time for validator entry has risen to a record high of 71 days. The queued staking amount is about 4 million ETH, with the total staked amount accounting for 30.3% of circulating supply (approximately 36.7 million ETH).