Tom Lee, Chairman of Bitmain (BMNR), diagnosed that the cryptocurrency market has entered the early stages of a new upward cycle. Regarding the recently disclosed CLARITY Act compromise by the Senate, he stated, "It generally contains acceptable provisions, prohibiting interest payments on reserves while allowing activity-based compensation. According to Polymarket, the probability of its passage by 2026 has exceeded 60%, reaching a high in over a month." He added, "Although investor sentiment remains weak, price trends are turning bullish, similar to the early stages of past cycles. Regardless of the CLARITY Act's passage, the current market trend supports the arrival of a crypto spring (recovery)." Furthermore, regarding ETH, he explained, "Both Wall Street's tokenization trend and the demand for blockchain related to agentic AI are acting as tailwinds for ETH. Since the start of the Iran war, it has outperformed the S&P 500 by over 1380 basis points, ranking among the world's top-performing asset classes alongside crude oil, and has established itself as a store of value and a medium of exchange."
