Tom Lee: Crypto Market Pressure May Be Linked to AI Stock Selloffs, Anthropic IPO Funding and Hack-Related Fund Releases
Tom Lee said the crypto market has faced sustained selling pressure in recent weeks. According to Odaily, he cited selloffs in AI and semiconductor stocks, particularly Nvidia (NVDA), that triggered margin calls; investors selling assets to raise funds for Anthropic’s IPO; and the return of funds linked to a $6.3 billion hack, after which holders may have converted assets into cash or stablecoins. Lee said these factors may be among the main reasons for the market’s recent weakness.Lee also said remarks during Anthropic’s roadshow about AI disrupting industries, along with a U.S. Department of Justice review of chip sales to Asia and China, added to market risk concerns. He reiterated that cryptocurrency represents the future of finance, blockchain will serve as a settlement layer for transactions, and digital assets could reshape capital markets. Lee said the crypto industry is approaching a “supercycle” larger than those of previous cycles, that current headwinds will pass, and that ETH is the future of finance.