ET 10:37

Headline: Fundstrat Co-Founder Tom Lee Asserts Crypto Bottom Reached Following Market Slump - BTC, ETH

[Para 1: The Lead] Fundstrat co-founder Tom Lee asserts the cryptocurrency market has reached or is near its bottom, despite ongoing market slumps. Lee, speaking on CNBC, argues that despite a lack of leverage and improving network activity, prices have overshot to the downside. He attributes this to investor capital being pulled away from digital assets earlier this year by a surge in precious metals. [Para 2-3: Supporting details & Context] Since Lee's interview, Bitcoin (BTC) has continued to slide, trading at $77,357 on Tuesday, down 1.4% over the past 24 hours and 11.8% over the last week, according to CoinGecko data. Ethereum (ETH) is trading around $2,265, down 3.5% on the day and more than 22% over the past seven days. Lee highlights that the broader economy remains stable, but heightened political uncertainty, particularly around Washington, adds to market volatility. The Federal Reserve's leadership transition and policy agenda also contribute to risk aversion. Technically, Lee believes conditions are aligned for a potential inflection point, citing analysis from advisor Tom DeMark forecasting Bitcoin to fall to the high $70,000s and Ethereum to around $2,400, suggesting convergence of price levels and time.

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