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Despite the recent crypto market correction, BitMine Chair Tom Lee and BitMEX co-founder Arthur Hayes are standing firm on their bullish prediction that Ethereum (ETH) will reach $10,000 before the end of this year. Both analysts say that the recent downturn represents a healthy correction rather than the end of Ethereum’s rally.
Ethereum Target Remains $10K–$12K by Year-End
Speaking on the Bankless podcast, Lee said he expects Ethereum’s price to move between $10,000 and $12,000 by December 2025. He added that such a rise wouldn’t necessarily indicate market exuberance but rather “price discovery at a new level.”
“For Ethereum, somewhere between $10,000 and $12,000,” Lee stated. “Ethereum has basically been basing for four years now and just broke out of the range, so this isn’t a blow-off top — it’s discovering fair value at a new level.”
At the time of writing, Ethereum trades around $4,129, meaning a move to $10,000 would represent a 142% increase. Hayes, who shared the podcast stage with Lee, agreed with the forecast, saying he would “stay consistent” with his call for a $10,000 ETH by year-end.
Long-Term Consolidation Sets Stage for Next Breakout
Lee explained that Ethereum’s lengthy consolidation period since 2021 positions it well for a strong breakout. ETH last hit an all-time high of $4,878 in November 2021 and has since traded mostly in a wide range between $1,000 and $4,000.
“Ethereum’s been in a base for years,” Lee said. “It just broke out of the range, and I don’t think this move would be the top — it’s a big level, but a happy level.”
Both analysts view the recent price recovery as the beginning of a new expansion phase for Ethereum rather than a speculative surge. Lee added that 2026 could bring strong fundamental developments, including growing institutional adoption and scaling improvements across Ethereum’s Layer-2 ecosystem.
Crypto Crash Doesn’t Change the Long-Term View
The optimistic forecasts came on the heels of last week’s marketwide crash, which wiped out over $19 billion in leveraged positions following U.S. President Donald Trump’s 100% tariff announcement on Chinese goods.
Ethereum fell from around $4,350 to $4,129, showing resilience compared to other altcoins that suffered sharper losses. Despite the volatility, both Lee and Hayes believe the market remains in a macro uptrend, supported by favorable liquidity conditions and institutional interest.
Historical Data Suggests $5K–$6.5K More Realistic by Year-End
While the $10,000 projection has captured headlines, some analysts believe it may be overly optimistic for this cycle. Historical data shows that Ethereum’s fourth-quarter returns average around 21.36% since 2016, according to CoinGlass.
If that pattern holds, ETH could reach between $5,000 and $6,500 by December — a significant gain but short of the double-digit target set by Lee and Hayes.
James Harris, CEO of Tesseract, offered a more conservative outlook, saying he expects Ethereum to “approach $6,500” if market conditions remain favorable.
Meanwhile, MN Capital founder Michaël van de Poppe noted that the ETH/BTC pair recently dropped to 0.032, calling it an “ideal zone for buys,” suggesting Ethereum may soon outperform Bitcoin in the next recovery phase.
Fundamentals Strengthen Ethereum’s Bull Case
Beyond price predictions, analysts emphasize Ethereum’s strong fundamentals. The network continues to dominate the DeFi and NFT sectors, with over $80 billion in total value locked (TVL) across decentralized applications.
Institutional interest in Ethereum remains high, especially after the approval of Ethereum ETF products in several regions, increasing accessibility for traditional investors.
Lee also pointed to Ethereum’s deflationary tokenomics, enhanced by the EIP-1559 burn mechanism, which has reduced net issuance of ETH, making it a scarcer asset over time.
Hayes added that as global liquidity expands and central banks ease monetary policy, Ethereum could benefit disproportionately compared to other cryptocurrencies due to its leading role in blockchain infrastructure.
Outlook: Ethereum’s Next Big Move May Define the Cycle
While opinions differ on whether Ethereum can hit $10,000 this year, most analysts agree that ETH remains one of the most promising assets heading into 2026.
If macroeconomic tailwinds — such as potential U.S. rate cuts and renewed risk appetite — materialize, Ethereum could enter a new price discovery phase similar to Bitcoin’s early-year surge.
As Tom Lee summarized, “Ethereum’s breakout isn’t hype — it’s the start of a new chapter. We’re moving from speculation to discovery.”
