Tom Lee's Bullish Stance on Crypto Faces Skepticism

PANews posted on X (formerly Twitter) that Tom Lee appeared on CNBC last night, reiterating his optimistic outlook on the cryptocurrency market. Lee asserted that the market has reached its bottom, with both price and timing aligning for a potential reversal, provided the fundamentals remain stable. He highlighted a significant increase in Ethereum's on-chain activity, driven by two main factors: Wall Street's systematic approach to digital assets and the accelerated integration of traditional financial services with blockchain infrastructure. Lee suggested that if this trend continues, crypto assets should see a corresponding price increase. However, the video sparked widespread skepticism in the comments section on X. Amid losses reported by institutions like BitMine, declining explanatory power of on-chain metrics, and heightened market sensitivity, the focus has shifted from the content of Lee's statements to his credibility. Lee currently faces a major contradiction between improving fundamentals and a trust deficit among market participants.