Tom Lee: The deleveraging cycle in the crypto market may be nearing its end

BitMine Chairman Tom Lee stated in an interview with CNBC that the current weak trend in the crypto market is highly similar to the crash on October 10, when the largest liquidation in history was triggered by a stablecoin pricing error, resulting in nearly 2 million accounts being washed out and a sudden depletion of liquidity. Lee pointed out that such deleveraging cycles typically last about 8 weeks, and we are currently in the 6th week, suggesting that the market may be nearing the end of its adjustment.