Tom Lee sounds the rallying cry: the most intense sell-off ends this week, and March will be the "rebound month" for tech stocks and cryptocurrencies.

robot
Abstract generation in progress

Bloomberg News has learned that Tom Lee, Head of Research at Fundstrat and Chairman of BitMine (BMNR), stated that despite recent pressures from geopolitical tensions and technical corrections in the global markets, cryptocurrencies, the software sector, and the so-called “MAG-7” tech giants are all expected to recover this month — they have either bottomed out or are about to reach their lows.

In an interview, Lee said, “I believe the most intense selling phase will end this week. I expect the stock market to rise in March.” Last weekend, after the US and Israel launched attacks on Iran and Tehran retaliated, cryptocurrency prices weakened, unsettling global investors.

However, when asked about concerns regarding Ethereum, Lee said that Ethereum’s fundamentals are strong, and with a large number of tokenization projects being built on-chain, prices will catch up once market conditions improve.

He also added that, despite worries related to the war causing investor anxiety, he expects the stock market to rise in March.

Bitmine also disclosed that its total holdings of cryptocurrencies, cash, and “moonshot” assets have reached $9.9 billion. Specifically, the company has staked 3,040,483 Ethereum, which, at the current price of $1,976 per ETH, is worth approximately $6 billion.

Additionally, Bitmine reaffirmed that its MAVAN staking solution is progressing as planned and is expected to be officially launched in Q1 2026. MAVAN is the name of the staking product launched by Bitmine.

ETH-3.07%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin