BlockBeats News, October 25th, Tom Lee stated in an interview with CNBC: “The crypto market experienced a large-scale deleveraging event on October 11th, with some contributing factors being tariffs and trade frictions. This was the most severe liquidation event in the crypto industry in the past 5 years. The aftermath of the event is still ongoing, and two weeks later, the pessimistic sentiment lingers. However, I believe these phenomena are about to end because the open interest on Bitcoin and Ethereum futures contracts are at historical lows. At this time, both assets are showing signs of a positive turnaround from a technical standpoint. Therefore, I also believe that cryptocurrencies will experience a bullish trend before the end of the year. Recently, JPMorgan Chase also mentioned that they may accept cryptocurrency as collateral in the future, which is very helpful for market confidence.”
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