Tom Lee: The crypto bear market is nearing its end, and Ethereum continues to benefit from the influence of two major positive narratives.

Crypto Mars News: On April 20th, Bitmine Chairman Thomas “Tom” Lee stated, “We see increasing signs that the ‘mini crypto winter’ is nearing its end. As the downside risks of the US-Iran war diminish, ETH has rebounded 41% from its lows in early February. Since the outbreak of the war, ETH has outperformed the S&P 500 by 2,280 basis points and remains the best-performing asset globally (excluding oil prices). Ethereum continues to benefit from two major positive narratives, including Wall Street tokenizing assets on the blockchain and the growing need for public, neutral blockchains for proxy AI systems. In our view, ETH has become the best ‘wartime store of value,’ and its market leadership since the war began is highly significant. Although many believe the crypto winter could last until fall 2026, our stance remains that the crypto winter is nearing its end. Since 2015, every major crypto winter has coincided with at least a 20% correction in the stock market. In fact, the crypto correction in 2025 aligns with a 20% decline in the S&P 500. However, in 2026, the stock market correction is milder, at only -8%.”