Tom Lee: The selling pressure on Ethereum mainly comes from the rise in oil prices. If oil prices fall, Ethereum will rebound

Fundstrat co-founder and BitMine chairman Tom Lee stated on the X platform that Ethereum is currently facing selling pressure, primarily due to rising oil prices, with the negative correlation between ETH and oil prices at a historical high.

During the past six weeks of rising oil prices, the price of Ethereum has fallen, and if oil prices retreat, Ethereum is expected to rebound. Lee believes this is a short-term tactical fluctuation, with the larger drivers for Ethereum coming from tokenization and AI agents, as these structural factors are already in place, and it is expected that Ethereum's price will strengthen by 2026.