Ethereum Market Experiences Significant Volatility Amid Flash Crash

According to BlockBeats, Tom Lee, Chairman of BitMine, commented on the recent market flash crash, stating that the decline was anticipated following a 36% increase since the April low. The VIX fear index surged by 29%, marking the 51st largest single-day fluctuation in history, placing it among the top 1% of extreme market events. Lee described the downturn as a healthy market correction. He emphasized that while the market is somewhat tense, unless there is a fundamental structural change, this pullback presents a buying opportunity. Although he did not confirm that the market has bottomed out, he expressed optimism about the potential for positive returns over the next week and month. Lee noted that if asked about the market's performance in a week, he would predict a high probability of an upward trend.