ETH Selling Pressure Tied to Surging Oil Prices, Tom Lee Says

Tom Lee says rising oil prices are driving Ethereum selling pressure, though he still expects long-term growth from tokenization and AI.

Ethereum News

Fundstrat co-founder Tom Lee has pointed to rising crude oil prices as the primary driver of selling pressure on Ethereum ($ETH), citing an inverse correlation between the two assets that he describes as being at a record high.

Oil prices have climbed roughly 66% over the past three months, moving from $65 to above $100 per barrel as geopolitical tensions in the Middle East escalated. West Texas Intermediate hit $108 and Brent crude reached $111 on Monday after fresh geopolitical developments raised concerns over potential disruptions to a key regional oil supply route.

Lee made his remarks in an X

on Monday, describing oil as "the biggest headwind" for ETH. $ETH has declined nearly 10% over the past week and was trading at around $2,100 on Monday, putting it 57% below its all-time high.

Despite the near-term pressure, Lee characterized the current situation as "short-term tactical noise" and said a reversal in oil prices would be followed by #Ethereum recovery. He pointed to tokenization and #AgenticAI as the structural drivers that should push ETH prices higher through 2026.