Key Takeaways
In this age of digital alchemy, three forces stir the cauldron: stablecoins, Project Crypto, and AI. Despite a 12% wobble, some ETH enthusiasts bet on a phoenix-like rebirth.
Tom Lee, that bold seer of Wall Street and Fundstrat’s Chief Investment Officer, has prophesied Ethereum [ETH] might ascend to $5.5K like a modern Icarus, with $12K as his celestial zenith by year’s end.
In a recent parable on X (formerly Twitter), he mused the bull market could stretch to 2035, as if the market itself were a fickle lover, capricious and unpredictable.
He declared Ethereum the “biggest macro trade” of the decade, citing stablecoins, Project Crypto (Wall Street’s blockchain folly), and AI as its three apostles.
“All these should bless the most reliable smart contract platform, which is Ethereum,” he intoned, as if reciting scripture.
Lee, with the gravitas of a 19th-century philosopher, claimed agentic AI and robots would generate data requiring zero-knowledge proofs-blockchain’s answer to a ledger and quill.
Ethereum, he insisted, would become the bedrock of global finance and AI, a digital Delphi guiding humanity’s next step.
ETH’s Descent into the Abyss
Such visions have stirred frenzied activity in crypto treasuries and ETFs, as if investors were preparing for a digital Armageddon.
The U.S. Spot ETF has siphoned $10B in two months, while corporate treasuries hoarded 3.7% of ETH’s supply, worth $19B-a treasure trove for modern-day Scrooges.
Yet August’s market tantrum sent ETH tumbling 12% from its $4.95K peak, now clinging to $4.5K like a drowning man to a lifeboat.
If this freefall continues, ETH may test $4K, a price level that doubled as the Bollinger Band’s daily nadir-a modern-day Rubicon.
The daily RSI, like a stubborn old dog, has clung to the mid-range since July. Defending this line could rally the bulls, while a slip might send ETH tumbling further.
Meanwhile, the 25-Delta Skew-a barometer of sentiment-spiked 1%-4% for short-dated contracts, as traders bought calls (bullish bets) over puts (bearish wails).
This suggested, with the certainty of a soothsayer, that some players expected a rebound-perhaps fueled by hope, or perhaps sheer desperation.
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2025-08-31 09:15