CRYPTO Bulls Are QUITTING Towards The Bottom...

Added: 2026-05-28

[00:00:00]I'd say it's around 87% of what I see on social media in relation to crypto is it's the end of the era for crypto.

[00:00:06]Crypto is game over. It's done. Pack it up. Pack up the bags. The game is over.

[00:00:12]I don't have all the answers in terms of exactly what is going to happen next for crypto. We anticipate all scenarios. But what I can say is that is not the case.

[00:00:23]Crypto is not game over. And in this video, I will show you exactly why.

[00:00:32]The final stage of ETH capitulation from long-standing bulls is happening right as macro increasingly looks like it's moving from tightening toward eventual loosening. People are piling into narrow influencer-led narratives and extrapolating current leadership forever. If yields and oil continue rolling over, ETH, alts, and NFTs become the primary beneficiaries very quickly.

[00:00:56]Whether you agree with the NFT part or not, I want to just make a point in relation to this post. What we're going to do in this video is we're going to actually look at Ethereum as it relates to the crypto market as it relates to altcoins. This is an altcoin chart.

[00:01:09]We're going to look at this chart as well, but we're even going to do we're going to do short-term price action targets for Ethereum. Some, you know, things to anticipate within this macro lens that we're looking through we're looking through for crypto. But back to this post, it's it's interesting that when I come across posts like this, which is something I very much agree with, I would say like besides Tom Lee, which we're going to we're going to actually look at this clip from Tom Lee in just a moment. Tom Lee, like one of the biggest crypto bulls right now, especially Ethereum bulls right now, contrarian to the max. Besides him, it almost seems like it's just accounts like this. I I just this just popped up on my feed.

[00:01:54]Accounts like this small account, 44 likes.

[00:01:58]This is this is all the bullishness that is left in the crypto space right now.

[00:02:02]But what this post is saying is insanely accurate in my opinion. And again, I don't know what's going to happen next, but I want to talk about all of these things. So, this post along with this video, the amount of it's over for crypto post I see is at all-time high.

[00:02:19]You think ETH is going to zero by the amount of bulls who have given up on it in the last two weeks. Everyone giving up like every cycle bottom before, but more than ever, all because of a lagging business cycle. I'm not going to get crazy into business cycle. There it is in blue, the PMI. If you're wondering, I I do constant content on this. If you're wondering why ETH, crypto, altcoins is lagging, is suppressed, hasn't broken out yet. Why ETH chart looks like this, why the altcoin chart looks like this.

[00:02:53]It's because of the blue line in my very strong opinion. And only time will tell if this is an accurate thesis. That thesis is heavily, you know, in contests with the four-year cycle thesis. and we're going to find out soon. PMI actually prints again on Monday. Very curious to see what happens. But it's the long longer term reversal of PMI, that blue line, the business cycle that I think plays into these cycles. And you can just see it on the chart. With that being said though, that's the explanation. And again, I'm not going to get so much into that. What I want to do in this video is I want to talk about Tom Lee, his contrarian view, and I really want to look at Ethereum to get a guide in terms of okay, yeah, years of suppression, but what next? So, that's what we're going to do, and we're going to start with really just looking at what Tom Lee is doing. Before we get into it, I want to thank Nexo for sponsoring this video. If you're not familiar, Nexo is a digital assets wealth platform that's been operating since 2018 through every market cycle.

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[00:05:04]So, appreciate Nexo for sponsoring this video. So, Bitmine Immersion Technologies, Bitine, has announced its latest purchase worth $237 million. The company now holds 5.39 million ETH tokens in its reserve. This represents roughly 4.47% of Ethereum's circulating supply. I want to show you this clip. This is from This was posted by um Merlin the Trader.

[00:05:31]Check this clip out of Tom Lee. If you're just a crypto investor, please.

[00:05:35]It's I mean it's probably like it's 40 40 seconds or so or so. Just listen to what he's saying.

[00:05:41]>> My bear rating my sell rating on company called Nexttel because I had a bearish view on this company. It was a very popular stock with investors and this the fact that I was at JP Morgan had a sell rating on a stock widely held by institutions and >> so he was bearish on Nexttel. Listen to what he says. big client of JP Morgan made me realize sell ratings are not fun things to do because I I felt enormous pressure like I suddenly became someone that everyone hated because I did I had a negative view on something that they all like. So I realized the power of being contrarian but also like how much heat there is. We still do that today.

[00:06:26]>> The power of being contrarian. Everybody this this post puts it very nice with the video. Everyone hates you until you're right. He was hated. He was right. Right now, Tom Lee doesn't get the best press for being bullish, for these headlines. He's accumulating Ethereum while everybody's leaving Ethereum. Well, crypto, it's game over for for for crypto. Tom Lee is contrarian in this very moment. And that being contrarian, especially in these macro environments where it takes time to really prove whether your thesis is correct or not, it's a very it can be an uncomfortable thing. And so it's it's so interesting just to see this like relationship of the few bulls left in crypto like Tom Lee with the rest of the industry right now with the rest of you know content creation. Again, this is a a post that I, you know, when it comes to ETHip capitulation happening and all these long-standing bulls are leaving while we're at this huge macro shift. I agree with that and it's such an unpopular thing. You know, 44 likes, I'm one of them. And the bearish content, crypto is over content because it plays directly into the emotion and the uncertainty and the fear that is in the markets. It just it's does very well.

[00:07:55]Here's Tom Lee. This was from May 17th.

[00:07:58]If if one is wondering why Ethereum has been under sell pressure to me, rising oil prices is the biggest headwind. ETH inverse correlation to oil is the highest ever. With him saying that, by the way, we'll keep an eye on oil. With everything that's going on with the Middle East war, I don't know when this is going to end. I don't know what oil will do, especially in the short term, obviously. But with that being said, he's saying rising oil prices is the biggest headwind. ETH inverse correlation to oil is the highest ever.

[00:08:29]You know what this this war has done and oil prices going up has done. If you think of just an altcoin market cap chart, it has prolonged what we were all what we were just starting to see finally, which was expansion of the PMI.

[00:08:48]All of a sudden, the war started, right?

[00:08:50]And now it's just back to uncertainty.

[00:08:52]This might even consolidate back down because of short-term inflation due to short-term energy prices going up. That might actually dip. We might have been getting ready for this period of the expansion. And it still could be very much in play on the macro here, but it's been prolonged even even again after already years of being prolonged. And so already this has been frustrating for altcoin markets and crypto markets. But right now, do you see this altcoin chart? Look how uncertain, look at the fear that is in this entire move of altcoins. And just look at PMI right now. And this is just a glimpse of uncertainty. And so this is a shortterm thing. And I think Tom Lee's interpretation of what is going on is spoton. and his interpretation in my view plays right into the macro view of crypto expanding with PMI and the business cycle and contracting with it.

[00:09:55]He goes on, thus oil reversing equals ETH prices recovering. And I think it's a very simple starting point to say, and we're going to look at ETH price ETH charts in just a moment. I think it's a very simple starting point to say if the tension in the Middle East ends and oil does start coming back down and we do continue to getting AI productivity boom and economic expansion then ETH risk on assets like crypto can follow their typical PMI business cycle rotation and that is what has happened and it's kind of like h I know at this point as I'm doing the video people don't care anymore people think it's you justopium in terms of crypto, but it's not. It's just data. It's very frustrating data. It's data that has tested all patience in terms of crypto, but it is what it is. And Tom Lee says this is short-term technical noise.

[00:10:50]These structural drivers are in place.

[00:10:51]Thus, we expect ETH prices to be stronger as we move through 2026.

[00:10:56]And that's just my view as well. Um, as we do move through 2026. So, let's go.

[00:11:02]Let's look at Ethereum. We're going to look at the charts. Let me just start with this. ETH market cap 256 billion.

[00:11:09]This is good to see actually. This is a bull a bull post. Thousand likes from yesterday. The stable coins running on it 322 billion up 10x in 5 years headed to two trillion by 20 2030. ETH BTC ratio is at a 5-year low. Either the thesis is wrong or the prices. I'm betting on the ladder. Meaning he's betting the price is wrong. And I agree and call it wrong, call it whatever. The price is what it is. It is what it's going to be. But I think the point is in terms of is it because is price down because Ethereum's game over and crypto's game over? No, it's just down because it's waiting on certain things to rotate as every other single cycle has happened. So here's Ethereum on the weekly. What I want to point before we start doing some short-term price action is I just want to point this out. I know it's just kind of repetitive, but it's just important. This is just macro momentum shift on Ethereum that just happened in early April. The MACD above the signal line in red. This this RSI, the slower moving momentum oscillator bottoming out back here in March and just kind of continuing in in this little uptrend with obviously a retrace currently in play. And we're waiting for again the structural bottom of not only the short term, but really the long term. Look at this. Look at this setup that we have on the screen going back to the last bull market high of 2021.

[00:12:37]Ethereum at the same price as it was in 2021. It's it's crazy to see that we go to Ethereum on the short term. So, here's what I want to just talk about.

[00:12:48]We got this break out of this, you know, consolidation, this triangle, this pattern that we kind of were tracking. I think I think we were tracking this last week, but Ethereum did not even test the 200 day moving average. That's an area we want to see ETH get to on the macro.

[00:13:04]That's a macro area. If ETH can start closing daily candles above that area, it'll be massive. And simultaneously, that's around $2,500. If you think of ETH on the macro, if it's breaking $2,500, you know what it's doing? We have the 20week moving average at 2,200.

[00:13:22]We have the 200E moving average at just under 2500. If Ethereum can get back up above that range, that is a massive step in the long-term reversal into a bull type of environment for Ethereum. Right now, Ethereum, it's game over. If that move happened and all of a sudden we're above 2500, watch how fast things change. Watch how emotional this space is. It's insane. Nobody wants to be bullish now, especially because we have, if we're being realistic, a breakdown target of around $1,500. That just is what it is. And I know that and I accept that. And I still sit here and I'm just bullish on the crypto space. And I think it is so silly that everybody wants to be all negative and bearish and it's game over for crypto even with this environment. What I don't think is silly is the frustration. Okay, I'm not sitting here saying you're ridiculous.

[00:14:18]Don't be frustrated with crypto right now. I'm not. I'm frustrated, too. I really am. Crypto has been incredibly annoying. But I don't blame the crypto space. I don't blame altcoin price. I'm not blaming any of that. For me, it's just very simple data and it doesn't it doesn't get any more clear to me what is happening and it's a correlation of the business cycle and it's everything happening from a macroeconomic perspective and just so happens the short term and this war that nobody anticipated after all the tariff here this came into play and just look at that look at that correlation of PMI and altcoins right now even on the short term it's no surprise to me that it's happening it is frustrating But back to my point, the target to the downside, $1,500. What I want to mention is, which is very much in play. We see this often, fake breakouts, right? And maybe we do continue lower, but fake breakouts is when we break back to the upside, we break the pattern. It's a busted pattern, meaning we get this fake out that suggests, man, we're about to go to 1500. The opposite happens. All coins turn around out of nowhere and all of a sudden we're testing potentially the lower trend line, right? Ethereum is at $2,200 on June 6th or in a week from now and we're testing the lower trend line and then that's in play and then maybe Ethereum breaks above the lower trend line and we're testing the apex. So it's like, man, it reversed. So now we're testing the apex. This could be a busted pattern if this happens. And all of a sudden you're going to see people be like, "Oh man, maybe maybe we are bullish again. Maybe maybe it's not game over." And eventually, and I don't know if it's this pattern. Maybe we go to 1500 first. But eventually, crypto turns around and there will be a moment on the macro on these charts where people are like, man, maybe it's maybe crypto's not over. And here's what I think that moment though it's been extended and prolonged. That moment will be when we get further macro confirmation of expansion of the business cycle in blue. That's when the moment will be and that's the simplest explanation besides four-year cycle. And this is the explanation that I that I'm that I'm kind of standing with and tracking. And I could be wrong. And come October if we're finally bottoming. We just kept going down and down and down.

[00:16:47]Ethereum's at like $800 or something.

[00:16:50]If my business cycle theory is wrong and fouryear cycle ends up being right, I'm just going to have to sit here and just say I was wrong about that. But that's okay. It's okay if I ended up being wrong about it. At least right now, I'm presenting data to you that I don't think many people are presenting. And that's fine. I just don't understand why. I don't understand why people are not open to this correlation here, the PMI correlation. And until we find out, I'm just going to be a contrarian bull just like Tom Lee over here. And this is my approach to the markets, everybody.

[00:17:26]So these are my thoughts today as we kind of track crypto markets and things continue just not happening right now. I hope you enjoyed the video. Please give it a sub, give me a subscribe if you enjoyed the video and the video a like if you got any value from it. I will see you in the next video. God bless.