Tom Lee Links Ethereum Weakness to Rising Oil Prices

According to Bitmine Chairman Tom Lee, rising oil prices are the biggest reason Ethereum (ETH) has been struggling, and he says the inverse correlation between the two assets has hit the highest level ever recorded. His observation has come at a time when ETH is trading near $2,100, down roughly 3% in 24 hours and 12% over the past month. The Oil Connection Lee laid out his thinking in a post on X on May 18, saying t…