Partner at Fundstrat Global Advisors Tom Lee stated that Ethereum $ETH has reached a 'bottom' amid mass liquidations in the crypto market.

The analyst also shared a forecast from Fundstrat's Director of Technical Strategy Mark Newton: 'Ethereum is a very attractive option in terms of risk-reward ratio. Ideally, if the bottom forms within the next 12 hours near $4300 and the market starts to rise to new highs, above $5100 — to $5400-5450'.

At the same time, his treasury company BitMine took advantage of the drop and purchased an additional 4871 ETH for over $21 million, increasing its reserves to 1.72 million ETH (approximately $7.5 billion).

Will we see $ETH above 5500?