Ethereum has lost the $3,000 mark and hasn’t been able to reclaim it for days, reinforcing growing concerns that the market may be entering a deeper corrective phase. Selling pressure continues to mount as traders unwind positions and sentiment shifts toward caution.

The broader crypto market is also weakening, adding to speculation that a bear market could be forming earlier than many expected. Fear and uncertainty now dominate social metrics, derivatives data, and spot flows, with investors questioning whether ETH has already set its cycle top. Yet, despite the pessimism and deteriorating price structure, not all players are retreating. In fact, some of the largest market participants are aggressively accumulating.

New data from Lookonchain reveals that Tom Lee’s Bitmine bought 69,82

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