Tom Lee: The crypto market may be in a bottoming phase, with Ethereum experiencing rapid recoveries after multiple deep pullbacks.

Odaily Planet Daily reports that Ethereum treasury company Bitmine Chairman Tom Lee stated in an interview that over the past 8 years, Ethereum has experienced 7 drawdowns of more than 60%, and each of these declines was followed by a rapid recovery. He pointed out that these movements typically involve a sharp decline followed by a quick rebound.

Tom Lee also mentioned that if the current crypto market is in a bottoming phase, there is a possibility based on some market performances, and he cited Strategy’s recent approximately 25% rebound as one of the factors to watch. He said that historical experience shows that such recoveries often feature relatively quick repairs. (CNBC)