Bitcoin and Ethereum broke below key support levels, sparking debate over the cause. Fundstrat’s Tom Lee blames a pricing glitch on an exchange that led to a cascade of liquidations affecting nearly two million accounts. Crypto markets are seen as leading indicators for broader risk assets as large funds wait for stabilization. Lee expects a bottom near $77,000 for Bitcoin and $2,500 for Ethereum, with recoveries typically faster than declines in past cycles. Strategy MSTR is a key gauge for sentiment, with rebounds expected once selling pressure from damaged market makers clears. Lee remains bullish on Ethereum’s long-term outlook, citing its strength relative to Bitcoin.
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Read more at Yahoo Finance: Tom Lee Says Bitcoin, Ethereum Crash Wasn’t Macro But A ‘Software Bug’
