The crypto world was recently rocked by news of Bitmine’s staggering $6 billion paper loss on Ether.
But according to veteran analyst Tom Lee, in a series of X posts, this massive figure is actually ‘by design.’ In a market where high-level institutional strategies often involve complex hedging and intentional tax-loss harvesting, what looks like a catastrophe to the average observer is often a calculated move by the ‘smart money.’

This revelation highlights a growing trend in 2026: the market is no longer driven by simple supply and demand, but by sophisticated
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