Tom Lee Predicts Cryptocurrency Market Recovery by Year-End

According to BlockBeats, Tom Lee stated in a CNBC interview that the cryptocurrency market experienced a significant deleveraging event on October 11, attributed partly to tariffs and trade tensions. This incident is considered the most severe liquidation event in the crypto industry over the past five years, with its repercussions still lingering. Despite the persistent pessimism two weeks later, Lee believes these trends are nearing an end. He noted that Bitcoin and Ethereum contract holdings are at historic lows, and both are showing positive technical indicators. Lee anticipates a market upturn by the end of the year. Additionally, JPMorgan recently indicated the possibility of accepting cryptocurrencies as collateral, which could bolster market confidence.