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)
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
JPMorgan: DeFi Security Exploits and Stagnant TVL Limit Institutional Adoption
Gate News message, April 23 — JPMorgan analysts led by managing director Nikolaos Panigirtzoglou said that persistent decentralized finance (DeFi) exploits and weak growth continue to limit institutional interest in the sector. The recent Kelp DAO hack wiped approximately $20 billion from DeFi's tot
GateNews2h ago
Ethereum Derivatives Open Interest Falls 7.04% in 24 Hours to $30.59B
Gate News message, April 23 — Ethereum's global derivatives open interest declined 7.04% over the past 24 hours, reaching a current total of $30.59 billion, according to Coinglass data.
Major centralized exchanges hold significant portions of the market: leading platforms account for $66.83 billion
GateNews3h ago
Ethereum Falls Below $2,300, Down 3.95% in 24 Hours
Gate News message, April 23 — Ethereum (ETH) has fallen below the $2,300 mark, trading at $2,299.73 with a 24-hour decline of 3.95%.
GateNews3h ago
Bitcoin and Ethereum Options Worth $98.7B Set to Expire
Gate News message, April 23 — Bitcoin and Ethereum options with a combined notional value of $98.7 billion are set to expire this month. According to on-chain data, 109,000 BTC options will expire with a put-call ratio of 0.93 and a maximum pain point of $72,000, representing a notional value of $85
GateNews4h ago
Aave Freezes rsETH Reserves Across Five Networks Following KelpDAO Exploit
Gate News message, April 23 — Aave has frozen rsETH reserves across Ethereum Core, Arbitrum, Base, Mantle, and Linea as the recovery effort accelerates following the April 18 KelpDAO exploit that drained 116,500 rsETH, valued at approximately $292 million, from Kelp's cross-chain bridge.
Multiple D
GateNews5h ago
