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BitMine risks $10B paper losses as Ethereum may drop 25% to $1,600, deepening Tom Lee's $7.35B portfolio hit.

Market News
24 May 2026
The Currency Analytics
View Source
Bearish
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Ethereum's price is showing bearish technical patterns that could lead to a 25% drop, pushing its value down to around $1,600. This potential decline threatens BitMine with over $10 billion in paper losses, compounding the $7.35 billion loss already seen in Tom Lee's portfolio. Such a drop would not only impact BitMine but could also shift market sentiment and trigger broader selling across the crypto market. While bearish patterns don't always materialize, the current momentum raises significant concerns for large Ethereum holders and the overall crypto market outlook.

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