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Tom Lee: The current weak trend of the market is highly similar to the big dump on October 10, and the market may be at the end of its adjustment.
Golden Finance reported that BitMine Chairman Tom Lee, in an interview with CNBC, stated that the current weak trend in the crypto market is highly similar to the big dump on October 10, when the largest liquidation in history was triggered due to a stablecoin pricing error, resulting in nearly 2 million accounts being washed out and Liquidity being instantly depleted. Lee pointed out that such deleveraging cycles usually last about 8 weeks, and we are currently in the 6th week, suggesting that the market may be nearing the end of its adjustment.