▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
Ethereum’s drop from $4,800 to $2,800 has been called a collapse — but Tom Lee and Howard Lutnick argue it’s something very different. In this conversation, they frame ETH’s volatility not as a failure but as the growing pains of a technology still in its early hyper-growth phase. Both Bitcoin and Ethereum remain tiny slices of global assets, and according to Lee, their real utility and adoption curve lie in the years ahead.
Lutnick explains why ETH’s recent declines look more like systematic liquidation than a breakdown in fundamentals. From capital-constrained market makers to forced reflexive selling, he describes a market that isn’t dying — it’s flushing out weak hands. And when the last seller finally sells, Lee believes Ethereum forms its “buy setup,” where bad news stops pushing the price lower.
Together, they argue that crypto’s recent underperformance versus equities has no fundamental cause — only structural distortions from the October 10th washout that wiped out countless account holders. In their view, this capitulation sets the stage for a powerful rebound.
Lee even lays out a bold target: ETH $7,000–$9,000 by January, driven by a fourth-quarter melt-up and the early stages of a tokenization supercycle. Volatility works in both directions — and what feels terrible now could be the setup for one of the biggest reversals in Ethereum’s history.
So what do you think?
Is Ethereum’s path to $9,000 a real supercycle unfolding — or an overly optimistic dream?
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This video is meant for informational purposes only, and is not a recommendation to buy or sell any security or cryptocurrency. It is also not a research report and should not serve as the basis for any investment decision.
▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
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