- Tom Lee predicts Bitcoin and Ethereum could see a “monster move” in Q4 as Fed rate cuts boost liquidity.
- Geoff Kendrick highlights Ethereum treasuries’ staking advantage, making ETH more sustainable than BTC.
- BitMine Immersion leads ETH treasuries with over 2.15M ETH, doubling its closest rival.
Fundstrat’s Tom Lee believes the final quarter of 2025 could unleash explosive gains for Bitcoin and Ethereum. Speaking on CNBC during Fundstrat’s 11th anniversary, Lee described the current market as “mid-cycle” rather than near its end. He argued that Federal Reserve rate cuts would act as a massive tailwind, restoring liquidity and confidence to markets. According to Lee, the Fed’s pivot could mirror historical moments like September 1998 and September 2024, when easing cycles fueled powerful rallies across equities and crypto.
Top Trades for the Next Leg Higher
Lee pointed to the Nasdaq 100, small-cap stocks, and financials as sectors ready to benefit from easier policy. But crypto remains at the top of his list, with Bitcoin and Ethereum standing out as his highest-conviction trades. He expects a “monster move in the next three months,” calling the setup ideal for digital assets to rally as investors search for risk-on plays once borrowing costs ease.
Ethereum’s Sustainability Edge
Standard Chartered’s Geoff Kendrick backed this bullish outlook but highlighted Ethereum’s unique advantage. Unlike Bitcoin, Ethereum-based treasury companies can generate staking yields, boosting their sustainability. Kendrick noted this yield generation could increase their market-to-net asset value (mNAV), giving Ethereum treasuries an edge over Bitcoin-focused rivals. Currently, crypto treasuries control 4% of all Bitcoin, 3.1% of Ethereum, and 0.8% of Solana, making their performance critical to broader price trends.
Big Players in the ETH Treasury Game
Lee’s BitMine Immersion Technologies leads the Ethereum treasury pack, holding a massive 2.15 million ETH worth over $9.7 billion — more than double SharpLink Gaming’s 837,230 ETH. With Ethereum treasuries expanding and the Fed ready to turn dovish, both analysts suggest the stage is set for ETH to shine. If their predictions hold true, the coming quarter could be one of the most pivotal for crypto since the last major Fed pivot.
