Tom Lee Cites Six Reasons for Persistent Crypto Selling Pressure

Cointime reports: Bitmine chairman Tom Lee on Nov. 15 attributed weeks of persistent crypto selling pressure to six factors despite positive fundamentals such as bank adoption of blockchain. He cited margin calls from the AI and semiconductor selloff, including Nvidia’s drop, an equity supply shock from the upcoming Anthropic IPO, retail selling crypto to fund Anthropic allocations on Robinhood, and a $6.3 billion hack whose returned funds are being converted to cash or stablecoins. He said crypto remains the future of finance.