- Ethereum has surged nearly 58% in the third quarter, on track to end a record three-quarter losing streak.
- Bitmine Immersion chairman Tom Lee predicts strong FOMO for crypto, especially Ethereum, into year-end.
- Lee expects institutional inflows and potential CLARITY Act passage to drive a robust fourth quarter.
- Ethereum experienced three consecutive quarterly losses totaling roughly 85% before this reversal.
Ethereum has surged nearly 58% in the third quarter, putting it on track to snap its first-ever three-quarter losing streak. The second-largest cryptocurrency had fallen roughly 29% in Q4 2025, 30% in Q1 2026, and 26% in Q2 2026, according to Coinglass data.
The current rally marks a sharp reversal from that downturn. However, the gain is not permanent, as the month still has more than two weeks remaining.
Bitmine Immersion chairman Tom Lee said, “We think the asset with the most FOMO in Sept and into year-end will be crypto, particularly $ETH.” Lee described the downturn as a shallow crypto winter with heavy devaluation.
Lee expects institutional allocation to increase in September and the fourth quarter. He also noted that the four-year crypto cycle ends next month, bringing back investors who stopped watching the sector.
Lee said Bitcoin and Ethereum could have a great fourth quarter if the CLARITY Act passes this year. He pointed to Korean investors rotating back into crypto after moving into AI earlier this year.
Bitmine Immersion Technologies is the largest corporate holder of Ethereum, holding 5,929,198 ETH as of September 7. That represents 4.9% of the token’s 122 million supply.
Ethereum was trading at $2,472, down over 2% in the past 24 hours. On Stocktwits, retail sentiment remained in the ‘bearish’ zone with ‘normal’ chatter levels. Ethereum is down over 16% so far this year and over 46% in the last 12 months.
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