BlockBeats News, March 4 — Tom Lee, Chairman of Ethereum Treasury Company BitMine, said in an interview with CNBC, "No one wants to see the US involved in conflict. But it must be pointed out that the market performance has been much more resilient than expected. I don’t think anyone can now say we’ve bottomed out, but it looks like we’re building a bottom — bad news keeps coming out, yet the market can digest it and stay stable. More importantly, I believe positions have been significantly reset.
Looking back to April last year, a simple signal was the VIX rising above 40. It reached 80 last year, but it may not go that high this time. Another signal is: if there’s another panic-inducing news and gold continues to fall while the stock market turns up on the same day, it indicates the market has already cleared out. I think we are approaching that stage.
We believe March is a bottom formation period. The decline in software, Mag 7, and crypto assets has already completed about 90%. They are outperforming the market, which shows leadership. Even if global trade disruptions occur, you still need AI and Mag 7. The fundamentals of these companies remain strong. Investors need to stay patient and cautious, keeping some cash on hand. But I believe opportunities are emerging."
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Citigroup Slashes Bitcoin and Ethereum 12-Month Price Targets, Citing Stalled U.S. Crypto Legislation Weighing on Upside Catalysts
Citigroup has lowered its 12-month price targets for Bitcoin and Ethereum, signaling a shift toward caution on the cryptocurrency market's medium-term outlook, primarily due to slow progress in U.S. crypto asset legislation. Bitcoin's target was reduced from $143,000 to $112,000, while Ethereum's fell to $3,175. Despite upside potential remaining in the future, the lack of new policy catalysts suggests prices may oscillate within a range in the near term. Citigroup's assessment of Ethereum is more cautious, as it believes the asset is more significantly impacted by on-chain activity.
区块客11m ago
Bitcoin Holds Strong at $70,000! On-Chain Data Reveals "Collective Selling Wave," Retail Investors Emerge as Biggest Selling Pressure
Under Middle East geopolitical tensions, Bitcoin faced widespread selling pressure, particularly from retail holders. According to Glassnode data, the market is experiencing heavy selling pressure, with the accumulated trend score declining to 0.04, indicating that retail and small-to-medium investors are reducing their positions significantly. Despite this, Bitcoin's resilience against the decline has surprised market observers.
区块客37m ago
ENJ Rockets Past $0.027 — 23% Surge Signals Momentum
Enjin Coin has surged 22.96% in 30 minutes, reaching $0.02737, reflecting increased trading activity and market interest. With a 24-hour change of +43.30%, traders are monitoring support at $0.025 and resistance at $0.030, suggesting potential trends ahead.
Coinfomania39m ago
Ethereum Returns to $2,300: Whales Accumulate 540,000 ETH, Exchange Inflows Drop to 10-Month Low
Ethereum's price rebounded above $2,300 on March 18, primarily driven by whale purchases and net exchange outflows. On-chain data shows investors have reduced their selling pressure, with supply tightening. Technical indicators reveal short-term resistance at $2,380 to $2,400, with support near $2,320. The futures market is also displaying positive signals.
GateNews56m ago
XRP Ledger Activity Surges as Price Holds Near Key Resistance
Key Insights
XRP Ledger processed over 2.5 million transactions in 24 hours, reflecting rising network engagement while the asset price remained stable near resistance.
XRP price holds near $1.41 while forming higher lows, indicating buyers continue supporting the asset despite repeated resis
CryptoFrontNews1h ago
Whale Frenzy: $2 Billion Bitcoin Purchase as Market Watches Powell Speech for Potential BTC Breakthrough Above $75,000
Bitcoin price has fallen back to $74,000, with the market paying close attention to Fed Chair Powell's speech. Ongoing whale buying and ETF inflows demonstrate long-term demand, but short-term selling pressure should be watched carefully. Market sentiment is improving, and volatility could increase.
GateNews1h ago
