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
BTC drops 0.60% in 15 minutes: whales concentrate on transfers while leverage liquidations sync up, unleashing sell pressure
Between 17:15 and 17:30 (UTC) on 2026-03-31, BTC fell 0.60% within a 0.87% trading range. The price dropped from 68,586.0 USDT to 67,990.0 USDT. Volatility increased within the 15-minute window, and market attention rose. Trading volume in the short term surged significantly, reflecting the market’s heightened focus on structural disruptions during this period.
The main drivers of this disruption are a sharp spike in whale transfer frequency and a synchronized increase in on-chain funds flowing into exchanges. Whales (holdings > 1000 BTC) are active; all exchanges witnessed high transfer activity, indicating significant institutional or large investor participation.
GateNews24m ago
Bitcoin, stocks rise, oil slides, after report of Iran's willingness to end conflict
Bitcoin rose to $68,169.65, gaining nearly 2%, alongside U.S. stocks as Iran’s President hinted at potential conflict resolution. This sparked optimism, easing fears of disruptions in oil supply and negative impacts on global markets.
CoinDesk34m ago
Bitcoin Records Worst Q1 Performance Since 2018 with 23.6% Decline
Gate News message, Bitcoin and Ethereum posted negative returns in Q1, with BTC down 23.6% and ETH down 30.6%. The declines were driven by rising oil prices and Fed uncertainty. Historically, a red Q1 following a long rally serves as a necessary market cooldown.
GateNews49m ago
Bitcoin breaks through 68,000 USDT, up 1.80% on the day
Gate News update: On March 31, the Bitcoin price broke through 68,000 USDT and is currently at 68,002.12 USDT. The intraday gain is 1.80%.
GateNews54m ago
Dormant Whale Moves 5,500 BTC Worth $366M After Five Years
Gate News message, whale address bc1quv has transferred 5,500 BTC valued at $366 million to new wallets following five years of inactivity. According to the data, these 5,500 BTC were withdrawn from centralized exchanges six years ago at an average price of approximately $7,129.
GateNews1h ago
Bitcoin Signals Potential Bottom As Long-Term Holders Capitulate
Bitcoin's Long-Term Holder Spent Output Profit Ratio (SOPR) has dipped below 1, suggesting a potential market bottom. As long-term holders face losses, historical patterns indicate this capitulation may lead to a strong recovery, presenting investment opportunities.
BlockChainReporter1h ago
