Tom Lee calls Ethereum’s 4% post-hack fall bullish

Tom Lee believes crypto's muted reaction to Binance's $6.3 billion hack is another sign that a bull market is underway. The BitMine chairman pointed to Ethereum's roughly 4% decline following the Oct. 29 theft, which was more than four times larger than the $1.5 billion stolen from Bybit in February 2025. Ethereum fell 8% on the day the Bybit breach was disclosed and extended its losses to 20% within a week, according to Lee. The 20% comparison covers a full week after Bybit, while the Binance figure covers only the days since Oct. 29. In a Nov. 2 statement , Lee described the latest market reaction as “very constructive,” arguing that the industry's response to an unprecedented security breach reflects growing resilience.

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