PANews December 31 News, Fundstrat co-founder and BitMine Chairman Tom Lee posted on X platform: “Typically, during these final holiday trading periods, many institutional investors exit the market. At the same time, algorithmic trading programs and bot trading programs begin to dominate the market, along with sell-offs for tax avoidance purposes. These constitute the market dynamics in the last few days of December.”
Previously, in an announcement where BitMine disclosed an increase of 44,463 Ethereum last week, Tom Lee mentioned that as the year enters its final weeks of the holiday season, market activity tends to slow down. Year-end sell-offs for tax avoidance purposes tend to depress the prices of cryptocurrencies and crypto-related stocks, and this effect is usually most pronounced from December 26 to December 30. Therefore, they are adjusting their market strategies accordingly.
Earlier today, Bitmine pledged an additional 118,944 ETH and increased its holdings by 32,938 ETH.
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