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Tom Lee: Rising oil prices are the biggest headwind for ETH, and structural positive factors will drive ETH to perform even better in 2026

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AIMPACT News, May 18 (UTC+8), Ethereum's largest treasury BitMine Chairman Tom Lee stated that if anyone wants to know why Ethereum has been under selling pressure recently: for me, the biggest headwind is rising oil prices, and the negative correlation between ETH and oil is at an all-time high. Over the past 6 weeks, while oil prices have been rising continuously, ETH prices have been falling. The chart shows oil prices inverted (the higher the oil price, the greater the pressure on ETH). Therefore, when oil prices start to reverse and decline, ETH prices are expected to rebound accordingly. This is just short-term tactical noise. The true long-term drivers of ETH are asset tokenization and agentic AI. These structural positives are already in place, so we expect ETH to perform better in 2026. (Source: BlockBeats)
ETH2.42%
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