Tom Lee: 'Crypto spring' has begun

Bitmine (BMNR) Chairman Tom Lee has stated that the cryptocurrency market is entering the initial phase of a new upward cycle. Citing a recently unveiled compromise version of the CLARITY Act in the U.S. Senate, he described its terms—which prohibit interest on reserves but allow activity-based rewards—as largely acceptable. Lee noted that according to Polymarket, the probability of the bill passing in 2026 has surpassed 60%, its highest level in over a month. Lee added that while investor sentiment remains weak, price action is turning bullish in a pattern similar to the start of previous cycles. He argued this trend supports the arrival of a "crypto spring" regardless of the bill's passage. Regarding ETH, he explained that it is benefiting from Wall Street's tokenization trend and demand for blockchains related to agentic AI. Lee highlighted that since the start of the Iran war, ETH has outperformed the S&P 500 by more than 1380 basis points, ranking it alongside crude oil as one of the world's best-performing asset classes and establishing it as a store of value and medium of exchange.