Tom Lee says: The AI stock selloff dragged crypto down—is this an “attractive buying opportunity”? 🤔
📌 Official Bitmine data (as of 10/18):
• Holds 6.041 million $ETH , or 4.9% of the total supply
• Added another 12,535 ETH last week
• Has staked 5.067 million ETH (84% of its holdings), with estimated annual staking income of about $309 million
🧠 Lee’s logic: AI funding concerns, tensions in the Middle East, anxiety over the U.S. midterm elections, and rising global bond yields → shrinking risk appetite → selloffs in semiconductor and memory stocks → South Korean and Taiwanese markets follow suit → U.S. and South Korean investors holding crypto reduce risk, creating spillover pressure on the crypto market.
⚠️ But stay level-headed: institutions saying “buy the dip” reflects their position, not a signal. What really matters is whether AI stocks can stabilize (earnings season kicks off tonight, with SpaceX, Tesla, and Meta reporting later this week) and whether $BTC can hold the 80,000 level.
Do you think crypto is following AI stocks, or has it started moving independently? Share your thoughts in the comments 👇
#ETH #Bitmine #CryptoMarket
Personal opinions only; not investment advice
📌 Official Bitmine data (as of 10/18):
• Holds 6.041 million $ETH , or 4.9% of the total supply
• Added another 12,535 ETH last week
• Has staked 5.067 million ETH (84% of its holdings), with estimated annual staking income of about $309 million
🧠 Lee’s logic: AI funding concerns, tensions in the Middle East, anxiety over the U.S. midterm elections, and rising global bond yields → shrinking risk appetite → selloffs in semiconductor and memory stocks → South Korean and Taiwanese markets follow suit → U.S. and South Korean investors holding crypto reduce risk, creating spillover pressure on the crypto market.
⚠️ But stay level-headed: institutions saying “buy the dip” reflects their position, not a signal. What really matters is whether AI stocks can stabilize (earnings season kicks off tonight, with SpaceX, Tesla, and Meta reporting later this week) and whether $BTC can hold the 80,000 level.
Do you think crypto is following AI stocks, or has it started moving independently? Share your thoughts in the comments 👇
#ETH #Bitmine #CryptoMarket
Personal opinions only; not investment advice