On October 23, 2025, Mark Tom Lee, chairman of BitMine Immersion Technologies, cautioned that Bitcoin (BTC) could still face 50% drawdowns despite surging institutional adoption, echoing sentiments expressed by trader Peter Brandt, as reported by Cointelegraph. In an interview with crypto entrepreneur Anthony Pompliano on the Pump podcast, Lee stated, “I’m sure there will be 50% drawdowns,” dismissing claims that spot Bitcoin ETFs and Wall Street interest have tamed BTC’s volatility. BTC, trading at $109,981 after a 2.3% weekly gain, has amplified market movements, often magnifying S&P 500 declines by 2x, according to CoinMarketCap.
Lee argued that Bitcoin has deviated from its traditional four-year halving cycle, which would suggest a peak in October 2025, but predicts instead a “longer cycle” driven by institutional inflows. On the Bankless podcast earlier this month, he reiterated a $200,000–$250,000 year-end target, implying a 50% correction could retrace to $125,000, near its all-time high. X posts from @WuBlockchain highlight Lee’s view that BTC’s halving mechanism no longer dictates cycles as institutional buyers introduce counter-cyclical dynamics,
Peter Brandt, a veteran trader, recently compared BTC’s chart to the 1970s soybean market, which crashed 50% after a similar pattern, warning of a potential drop to $54,990, last seen in September 202r. Lee agreed, noting the stock market’s frequent 25% drawdowns over the past six years signal amplified BTC volatility, with a 20% S&P drop potentially triggering a 40% BTC plunge, per. Historical precedents include BTC’s 50% fall from $69,000 to $35,000 between November 2021 and January 2022, per.
This contrasts with MicroStrategy’s Michael Saylor, who declared in June 2025, “Winter is not coming back,” confident in BTC’s maturation, per. BitMine’s $15B market cap and 3M ETH holdings (2.5% of supply) reflect Lee’s bullish long-term stance, aiming for 5% of ETH supply, per Fortune Crypto. X posts from @ARKInvest note ETH potentially flipping BTC in market cap, aligning with Lee’s view of Ethereum as “Wall Street’s blockchain,”.
BTC’s $2.45T market cap and $65.8B daily volume underscore its liquidity, but RSI at 62 signals room for volatility, with support at $100,000 and resistance at $120,000, per TradingView. Investors should track ETF flows on SoSoValue and FOMC updates via federalreserve.gov. Dollar-cost average into BTC, with stop-losses below $100,000, and diversify into USDC or ETH ($4,070), per Techopedia. Follow @TheBlock__ on X for real-time insights. While institutional adoption tempers extremes, Lee’s warning highlights BTC’s enduring risk profile in 2025.
