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Tom Lee of Fundstrat has highlighted three external factors behind the cryptocurrency selloff, and Ethereum (CRYPTO:ETH) is feeling that pressure more than Bitcoin (CRYPTO:BTC). On November 14, Lee posted on X that “Crypto has been under intense selling pressure the last few weeks.”
Ethereum is trading at about $1,809, down 1.6% in 24 hours and 19.2% over the past week. Its closing price of $1,768 on November 14 was its lowest daily close in 90 days, and the cryptocurrency has plummeted 39% this year. So, do Lee’s identified causes of the crash make sense, and what do they mean for…
