Tom Lee: The decline in ETH and BTC is due to forced liquidations, not a fundamental collapse
ChainCatcher reported that Tom Lee stated the declines in ETH and BTC were the result of artificially manipulated liquidations, rather than a collapse of fundamentals.
This view comes from market timing expert Tom DeMark, who has advised Goldman, Citi, and Paul Tudor Jones. DeMark believes the ideal bottom for ETH is around $2,500, but a reversal could occur earlier.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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MoreA newly created wallet deposited 2.5 million USDC into HyperLiquid and opened a 10x leveraged short position on HYPE.
Data: In the past 24 hours, total liquidations across the network reached $285 millions, with long positions liquidated for $60.0871 millions and short positions liquidated for $225 millions.
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