Tom Lee: Ethereum's selling pressure is mainly due to rising oil prices; if oil prices fall, Ethereum will rebound.

CoinFeed reported on May 18th that Tom Lee, co-founder of Fundstrat and chairman of BitMine, stated on the X platform that Ethereum is currently facing selling pressure, primarily due to rising oil prices, with the negative correlation between ETH and oil prices at an all-time high. Ethereum's price fell during the past six weeks of rising oil prices, and is expected to rebound if oil prices fall. Lee believes this is a short-term tactical fluctuation, and that Ethereum's bigger drivers come from tokenization and AI agents; these structural factors are in place, and he expects Ethereum's price to strengthen in 2026.