Altcoins News
By Evie Vavasseur
1 / 15
What the Inflation Data Actually Did. The August U.S. Consumer Price Index came in at an annual rate of 3.
2 / 15
Bitmine's Weekly Buying and the Supply Crunch. Lee calls his strategy the "alchemy of 5%." The idea, basically, is that consistent weekly…
3 / 15
What's Still Unclear. There's no specific detail on what yield Bitmine is earning from its staked ETH.
4 / 15
Ethereum jumped 7.46% by September 11, hitting $2,619.0. Tom Lee called it the start of a "face-ripper rally" for short sellers — and his firm is sitting on the biggest corporate…
5 / 15
Lee's Fundstrat has been bullish on Ethereum for a while, but the real story here is Bitmine Immersion Technologies.
6 / 15
The August U.S. Consumer Price Index came in at an annual rate of 3.4%, right where analysts expected. But the Core CPI — which strips out food and energy — rose 0.
7 / 15
Then things flipped fast. Investors who'd been sitting in defensive positions — cash, bonds, anything but risk assets — saw the numbers and basically decided the inflation threat…
8 / 15
Fundstrat had seen this coming, or at least positioned for it. The firm flagged that a lot of investors had gone defensive before the CPI release, which set up exactly the kind…
9 / 15
Lee calls his strategy the "alchemy of 5%." The idea, basically, is that consistent weekly purchases of Ethereum — not a one-time bet, not a market-timing play — slowly tighten…
10 / 15
See also: Hyperliquids 500% Fee Wreaks Havoc on Oil Short-Sellers as Prices Surge to $100
11 / 15
5.9 million ETH is a lot. To put it plainly: Bitmine controls nearly one out of every twenty Ethereum tokens in existence.
12 / 15
The company itself has shifted a lot over the past year. It came up as a mining operation — the name "Immersion Technologies" kind of gives that away — but under Lee's…
13 / 15
Ethereum's week-long gain sat at 6.62% heading into September 11, so the 7.46% single-day move wasn't coming out of nowhere. The trend was already building.
14 / 15
Short sellers who'd bet against Ethereum on the assumption that sticky inflation would keep the Fed hawkish and risk assets weak got caught badly.
15 / 15
Related: 10-Year Treasury Yield Surges Past 5% for First Time Since 2024, Shaking Markets
The Currency Analytics
Want the full story?