Tom Lee, chairman of Bitmine Immersion Technologies (BMNR), warns that a heavy sell-off in South Korean tech stocks could trigger secondary liquidations in crypto, since many Korean tech investors also hold crypto and may sell it to offset stock losses. That could hit Ethereum (ETH), which Bitmine has been accumulating since June 2025. Lee expects only “short-term pain,” but the article argues that a collapse of the AI bubble would spread losses across global tech and crypto markets, turning it into “long-term pain.” Ethereum is already down 50% from its August 2025 highs and trades at $2,450, so a return to $5,000 would be hard if the AI trade collapses. The article adds that many cryptocurrencies now trade like tech stocks, and since much crypto trades offshore, overnight events abroad can quickly affect ETH's price.
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Related tickers and likely impact
ETH/USDT
▼ Likely negativeEthereum
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $294.2B |
| Close on 10/20/2026 | 2,449.20 |
| Change that session | +1.71% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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