Tom Lee: The cryptocurrency market may have reached or be close to the bottom

Fundstrat co-founder Tom Lee stated on CNBC that the cryptocurrency market may have reached or is close to its bottom. Despite the recent volatility in the prices of Bitcoin and Ethereum due to the absorption of safe-haven funds in the precious metals market and uncertainty in Washington's policies, the network fundamentals remain strong.

According to Tom DeMark's technical analysis, Bitcoin has completed its price and time bottoming logic around $77,000, while Ethereum has done so around $2,400. Additionally, BitMine Immersion Technologies (BMNR), a publicly traded company chaired by Tom Lee, recently purchased another 41,788 Ethereum, bringing its total holdings to over 4.28 million, which accounts for approximately 3.5% of Ethereum's circulating supply.