BlockBeats News, January 24 — Tom Lee, Chairman of BitMine and co-founder of Fundstrat, said in an interview with CNBC, "Cryptocurrencies have always been affected by deleveraging. The ‘1011’ crash shook the market; it was the biggest deleveraging event in cryptocurrency history. Then this week, cryptocurrencies performed quite well until the ‘Greenland’ statement was released, which triggered fluctuations in Japanese government bond yields and deleveraging in cryptocurrencies. So I believe, unfortunately, that cryptocurrencies should have followed gold’s trend to some extent, but excluding the impact of deleveraging, I think that is the real reason affecting cryptocurrencies.
I believe that as a settlement layer, cryptocurrencies are still very important, but this is more about smart blockchains. In other words, compared to Bitcoin, this is more an Ethereum story. Bitcoin has recently faced some shocks because there are concerns that quantum computing could steal or break into one-third of Bitcoin’s old wallets. I don’t think the Bitcoin story is over. It is just waiting for clearer regulation, and institutional adoption is increasing. So, I still don’t think a $200,000 Bitcoin is so crazy. It’s just a doubling of price.
Historically, parabolic rises in cryptocurrencies often follow parabolic rises in precious metals. So unless something happens in the next few years, I don’t think this is a story that has already played out."
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Polymarket predicts that the probability of Bitcoin falling to $65,000 in March has increased to 49%.
Gate News, on March 22, as Bitcoin briefly dropped below $69,000, the prediction probability of "Bitcoin falls to $65,000 in March" on the Polymarket prediction market rose to 49%. Additionally, the probability of predicting Bitcoin falling to $60,000 is 16%, and the probability of predicting it rising to $80,000 is 12%.
GateNews4m ago
Bitcoin Options Signal Concern Even as ETF Outflows Remain Relatively Low
Bitcoin price (BTC) maintained a sideways trend around the 70,000 USD level during Friday's trading session, after failing to reclaim the previous 75,000 USD milestone. This movement coincides with two consecutive sessions recording net capital outflows from U.S. spot Bitcoin ETF funds, thereby reversing the trend.
TapChiBitcoin11m ago
Bitcoin Mining Difficulty Adjusts Down 7.76% to 133.79T, Creating Second-Largest Decline This Year
Bitcoin mining difficulty declined by 7.76% to 133.79 T on March 21, marking the second-largest drop this year. JPMorgan Chase analysts forecast that Bitcoin mining costs have fallen to $77,000, still above spot prices. An increasing number of mining companies are redirecting infrastructure toward AI computing power. Core Scientific plans to sell its Bitcoin holdings in 2026 to fund AI expansion, while Bitdeer has liquidated its Bitcoin position. Multiple companies are formulating diversification strategies.
GateNews22m ago
Why JPMorgan's $266K Bitcoin Target Makes Sense as Institutional Demand Strengthens, Expert Insight
JPMorgan’s $266,000 bitcoin projection is being interpreted as a strategic signal to institutions, revealing how bank-grade research is shaping allocation behavior rather than simply forecasting price direction.
JPMorgan’s $266K Bitcoin Target Holds up Under Expert Market Scrutiny
Market
Coinpedia36m ago
In the past 1 hour, the entire network liquidated @2.48@ billion USD, with BTC liquidations of @1.09@ billion USD.
Gate News, on March 22nd, Coinglass data shows that in the past 1 hour, the entire network has liquidated $248 million, of which long positions liquidated $232 million and short positions liquidated $16.36 million. By coin type, BTC liquidations reached $109 million and ETH liquidations reached $83.73 million.
GateNews41m ago
