While most of the market is staring at red candles and wondering if Ethereum is about to bleed out, one name that never flinches is still quietly (or not-so-quietly when Lookonchain is watching) loading the boat.

Lookonchain just flagged a fresh transfer: 24,827 ETH worth $72.52 million moved from a BitGo hot wallet to a brand-new address that the community has already tied to Bitmine, the mining/investment vehicle associated with Fundstrat’s Tom Lee.

Yes, the same Tom Lee who’s been calling for $150k–$500k Bitcoin and remains one of Wall Street’s loudest crypto bulls.

The fact that his team is aggressively accumulating ETH on a red day instead of waiting for “a better entry” tells you everything you need to know about their conviction.

This isn’t retail FOMO — this is cold, calculated, institutional-sized buying.

Check the transaction yourself on Arkham Intelligence.

Original alert here → Lookonchain tweet

When known smart money keeps buying the dip this hard, it usually means one of two things:

1. They see something the charts aren’t showing yet, or
2. They’re positioning for the next leg that will make everyone who sold today kick themselves.

Either way, moves like this tend to act as a floor for price action. We’ve seen it before with MicroStrategy and Bitcoin; now we might be watching the Ethereum version play out.

For the meme coin degens reading this: more institutional ETH flowing in = stronger base layer = bigger pumps when animal season returns. Your favorite dog/shit/frog coins live on Ethereum for a reason.

Tom Lee isn’t panic-selling.
He’s panic-buying.

And history has shown that following that kind of money usually pays off.

Stay tuned — this wallet will be watched like a hawk from now on.