Tom Lee just explained this crash — and the trigger isn't only crypto 📉
BitMine chairman Tom Lee says the selloff is being driven by margin calls from the AI stock slide, investors raising cash ahead of Anthropic's IPO, and fallout from the reported ~$6.34B Binance security incident.
The damage so far:
• $BTC ~$65,300 after tagging $62,006 — lowest since July, heading for a 6th straight weekly loss
• $ETH ~$1,780, down 20% this week
• $2B in leveraged longs liquidated in 24h
• Spot BTC ETFs: $1.91B out in 7 straight sessions
Fear & Greed sits at 10 — extreme fear. If Lee is right, the next move depends on stocks as much as crypto.
Not financial advice. DYOR.
#Bitcoin #Crypto #CryptoNews
BitMine chairman Tom Lee says the selloff is being driven by margin calls from the AI stock slide, investors raising cash ahead of Anthropic's IPO, and fallout from the reported ~$6.34B Binance security incident.
The damage so far:
• $BTC ~$65,300 after tagging $62,006 — lowest since July, heading for a 6th straight weekly loss
• $ETH ~$1,780, down 20% this week
• $2B in leveraged longs liquidated in 24h
• Spot BTC ETFs: $1.91B out in 7 straight sessions
Fear & Greed sits at 10 — extreme fear. If Lee is right, the next move depends on stocks as much as crypto.
Not financial advice. DYOR.
#Bitcoin #Crypto #CryptoNews