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
Bitcoin Options Traders Show 'Peak Defensiveness' as Put Demand Hits Highest Level Since June 2021
Bitcoin options traders have positioned for significant downside protection, with the put-to-call open interest ratio averaging 0.77 over the past month—the highest level since June 2021 and within the 91st percentile of all readings since mid-2019, according to VanEck's March 2026 Bitcoin ChainCheck report.
CryptopulseElite4m ago
FOMC Hawkish Shock Bloodbaths Crypto Market, BTC "Drops Toward 70K" Network-wide Liquidations $458 Million, 128K Users Liquidated
Federal Reserve FOMC Holds Rates Steady, But Hawkish Dot Plot Rattles Market Confidence. Bitcoin Plummets Over 7% from $74,272 to $68,934, ETH Breaks Below $2,100. Across all exchanges, $458 million in liquidations occurred, affecting over 128,000 traders. Silver and gold also plunged in tandem, intensifying market fear sentiment as the indicator drops into the extreme fear zone.
動區BlockTempo7m ago
Why Did Bitcoin Drop Today? Dormant Whale Awakens After 11 Years and Liquidates Holdings, Hormuz Crisis Spreads
Bitcoin has recently been affected by supply shocks and geopolitical pressures, with prices declining from their highs to approximately $69,500. Large volumes of bitcoin entering exchanges have triggered market panic. Major sellers include dormant wallets resuming activity and early investors taking profits. Technically, bitcoin has broken below the $72,000 support level, with $64,000 becoming a critical support level. A breach of this level could expose the asset to further downside risk.
MarketWhisper17m ago
A certain whale opened 20x leverage long positions on BTC and ETH, with a position value exceeding $40 million.
Gate News reported that on March 20, according to Onchain Lens monitoring, a certain whale recently converted its position from short to long, and initiated 20x leverage long positions on BTC and ETH. The whale currently holds 284.68 BTC, valued at approximately $20 million; and holds 9,336 ETH, valued at approximately $20 million. Through such frequent leveraged operations, the whale has accumulated profits exceeding $4 million.
GateNews20m ago
Police Seized 54.5 Billion Won in Virtual Assets Over Five Years! South Korean Police Plan to Establish Privacy Coin Seizure Guidelines to Fill Regulatory Gaps
The Korean National Police Agency is developing new digital asset seizure guidelines that for the first time incorporate management of privacy coins and software wallets, aiming to improve the digital asset management system. The new guidelines are designed to enhance professional management of privacy coins and address recent asset custody vulnerabilities. According to reports, the total value of digital assets seized over the past five years reaches approximately 54.5 billion Korean won. The police department plans to select private custodian institutions in the first half of 2026 and establish a more comprehensive digital asset security governance framework.
CryptoCity22m ago
