Fundstrat Co-founder Tom Lee Links Ethereum Weakness to Surge in Oil Prices

Fundstrat co-founder Tom Lee says Ethereum has remained under selling pressure over the past three months, with rising oil prices emerging as a key factor behind the trend since the start of the US-Israeli war on February 28.

In his comments on X, Lee pointed to a strong inverse relationship between oil and Ethereum, noting that crude prices have risen about 66%, increasing from around $65 to above $100 per barrel over the same period.

He added that this surge in oil has acted as a short-term headwind for ETH, suggesting that a reversal in oil prices could support a recovery in Ethereum’s value.

Looking ahead, Lee also highlighted longer-term drivers such as tokenization and agentic AI, saying these structural trends remain intact and could contribute to stronger Ethereum performance into 2026.

Source: Tom Lee