Tom Lee: The market may be in the process of bottoming out, with overall performance significantly better than expected

BlockBeats News, March 4 — Tom Lee, Chairman of Ethereum Treasury Company BitMine, said in an interview with CNBC, "No one wants to see the US involved in conflict. But it must be pointed out that the market performance has been much more resilient than expected. I don't think anyone can now say we've bottomed out, but it looks like we're building a bottom — bad news keeps coming out, yet the market can digest it and stay stable. More importantly, I believe positions have been significantly reset.

Looking back to April last year, a simple signal was the VIX rising above 40. It reached 80 last year, but it may not go that high this time. Another signal is: if there’s another panic-inducing news and gold continues to fall while the stock market turns up on the same day, it indicates the market has already cleared out. I think we are approaching that stage.

We believe March is a bottom formation period. The decline in software, Mag 7, and crypto assets has already completed about 90%. They are outperforming the market, which shows leadership. Even if global trade disruptions occur, you still need AI and Mag 7. The fundamentals of these companies remain strong. Investors need to stay patient and cautious, keeping some cash on hand. But I believe opportunities are emerging."