Is the crypto market in a 'mini winter,' and should you be buying the dip? That's the big question on many investors' minds right now, especially with recent price drops in Bitcoin (BTC) and Ethereum (ETH). But here's where it gets interesting: according to a prominent financial expert, now might be the time to start looking for opportunities rather than panicking.
Thomas Lee, the Chief Investment Officer at Fundstrat and Chairman of the ether treasury firm BitMine Immersion, shared his insights during a keynote speech at Consensus Hong Kong 2026 on Wednesday, February 11, 2026. His core message? Stop trying to perfectly time the market's bottom and instead, focus on strategically buying when prices dip.
Lee believes the current crypto downturn, which has seen Bitcoin experience a significant 50% drawdown from its October record highs – its most severe correction since 2022 – presents a valuable opportunity. He noted that on Wednesday, Bitcoin dipped back below the $67,000 mark, retracing some of the gains from its recent bounce off the crash lows. After a remarkable weekend recovery, soaring from $60,000 to above $72,000, BTC saw a 2.8% decline in the preceding 24 hours. Similarly, Ethereum's ether (ETH) also experienced a dip, falling to around $1,950, a roughly 3% decrease.
And this is the part most people miss: Lee explained that the recent volatility in crypto prices can be partly attributed to wider market movements, specifically in metals. He pointed to the significant fluctuations in gold's market capitalization in late January, which caused ripple effects across various asset classes, including triggering margin calls and impacting riskier assets.
Interestingly, Lee made a bold prediction: after Bitcoin significantly underperformed gold in 2025, he anticipates that gold has likely reached its peak for the year, and Bitcoin is poised for outperformance throughout 2026.
When it comes to ether (ETH), Lee highlighted a historical pattern: repeated 50% drawdowns since 2018 have frequently been followed by sharp recoveries. Citing market technician Tom DeMark, Lee suggested that ETH might need to briefly fall below $1,800 to establish what he calls a "perfected bottom" before a more substantial and sustained upward trend can begin.
Now, let's talk about what's truly sparking debate: While Lee advocates for buying the dip, the idea of a "mini winter" might make some investors hesitant. Is this a temporary dip, or are we entering a longer period of consolidation? And if ETH needs to dip below $1,800, how low is too low for comfort?
What are your thoughts? Do you agree with Thomas Lee's strategy of buying the dip, or are you waiting for more definitive signs of a recovery? Let us know in the comments below – we'd love to hear your perspective!
