Tom Lee: Believes There Will Still Be a Bullish Rally by Year-End, Bitcoin and Ethereum Are Both Turning Bullish on the Technical Front

On October 25th, Tom Lee stated in an interview with CNBC: "A large-scale deleveraging event occurred in the crypto market on October 11th. Some contributing factors were tariffs and trade frictions. This was the most severe liquidation event in the crypto industry in the past 5 years. The impact of this event is still ongoing. Two weeks later, the pessimistic sentiment remains. However, I believe these phenomena are about to end because the open interest on Bitcoin and Ethereum futures contracts is at historical lows. At this time, both assets are showing signs of a positive turnaround from a technical perspective. 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."