Tom Lee Ascribes Ethereum’s Pain to Market-Makers, Not the Fed | US Crypto News
Tom Lee attributes Ethereum's recent price slump to internal liquidity shocks from market-makers, not the Federal Reserve.Summary
Fundstrat's Tom Lee suggests that the recent sharp drawdown in Ethereum's price is primarily caused by internal structural stress within the crypto market, specifically a significant liquidity shock following a massive liquidation event on October 10. Lee describes this as a form of "crypto QT," where the disappearance of key market-makers unable to provide liquidity mimics central bank tightening. Despite this short-term pain, Lee remains bullish on Ethereum's long-term prospects, asserting that its Supercycle thesis remains intact due to rising activity in stablecoins, RWA tokenization, and prediction markets, which rely on Ethereum as the foundational smart contract platform. He believes the industry needs a few weeks to find its footing after the internal shock.
(Source：BeInCrypto)