BitMine Chairman Tom Lee has identified five possible reasons behind the recent crypto market selloff while maintaining that Ethereum and the digital asset industry remain positioned for a longer-term supercycle.
Summary
- Tom Lee identified five possible causes of the crypto selloff, including Nvidia losses and Anthropic’s IPO.
- Lee suggested the Binance hack recovery may have prompted customers to convert returned cryptocurrencies into cash.
- US spot Ethereum ETFs recorded approximately $398.9 million in net outflows during the November 9–13 trading week.
- Onchain Lens reported that an Ethereum Foundation-linked wallet sold 7,500 ETH over four days.
- BitMine held 6.07…
