BlockBeats News, May 18th, Ethereum's largest treasury BitMine Chairman Tom Lee stated that if anyone wants to know why Ethereum has been under selling pressure recently: For me, the biggest headwind is the rising oil price, with ETH exhibiting the highest historical negative correlation with oil.

Over the past 6 weeks, while the oil price has been rising, the price of ETH has been falling. The chart displays the oil price inverted (the higher the oil price, the greater the pressure on ETH). Therefore, when the oil price starts to reverse and fall, the ETH price is expected to rise accordingly.

This is just short-term tactical noise. The real long-term drivers for ETH are asset tokenization and Agentic AI. These structural positives are already in place, so we expect ETH to perform even better in 2026.