A newly created wallet has received $80.8 million worth of Ethereum (ETH) from institutional trading platform FalconX. This significant transfer has attracted the attention of crypto observers, particularly because the wallet’s activity closely mirrors the typical withdrawal patterns of Bitmine, an entity frequently associated with market analyst Tom Lee.
This transaction has led to speculation that Tom Lee, who is known for his positive outlook on cryptocurrencies, is once again accumulating assets during a period of market decline, often referred to as "buying the dip."
Tom Lee’s Buying Pattern Reappears
Tom Lee, a co-founder of Fundstrat Global Advisors, has established a reputation for acquiring cryptocurrencies during bearish market phases, often profiting when the market eventually recovers. The recent Ethereum transfer aligns with his established investment strategy, suggesting a belief in Ethereum’s long-term value.
Blockchain analysts have noted the familiar nature of this activity. The timing and the way the ETH was transferred into the wallet are consistent with previous movements attributed to Bitmine, which is understood to be connected to Lee’s investment network. The inflow of $80.8 million into this wallet indicates that significant market participants remain active despite current market volatility.
BULLISH: A new wallet matching Bitmine’s usual withdrawal pattern received $80.8 million in $ETH from FalconX, indicating Tom Lee is continuing to buy the dip. pic.twitter.com/KhQ921zU1J
— Cointelegraph (@Cointelegraph) November 24, 2025
Bullish Sentiment Amid Market Dips
While many individual investors may be hesitant during market downturns, institutional investors like Tom Lee appear to be increasing their positions. This action could suggest a change in market sentiment, particularly among high-net-worth individuals who often influence broader market trends.
Although not officially confirmed, the substantial amount and the distinct pattern of the transaction suggest a deliberate investment. If Tom Lee is indeed behind this wallet activity, it serves as another strong indicator of his continued positive outlook on Ethereum and his potential expectation of a market recovery in the near future.