$BitMine Immersion Tech(BMNR.US)The cryptocurrency market experienced a broad decline, with Bitcoin falling below $93,000 and Ethereum dropping to around $3,060. Crypto-related stocks extended their losses, with Bitmine Immersion Technologies down over 7%. Regarding this adjustment, Fundstrat‘s Tom Lee analyzed that balance sheet pressures faced by market makers have led to tightening liquidity, an effect similar to quantitative tightening, thereby suppressing asset prices. However, he emphasized that the current crypto cycle is far from its peak, predicting the next market peak will arrive in 12–36 months. He also noted that Ethereum upgrades, the tokenization of assets, and regulatory evolution will serve as structural catalysts for industry development.
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