Tom Lee, chairman of BitMine, believes the pullback within the crypto market represents a golden purchase alternative for buyers. This comes as President Trump confirmed that he could be assembly with China to barter the U.S tariffs.
Tom Lee Calls for Calm as Markets Correct
In a latest put up, Tom Lee acknowledged that market anxiousness is comprehensible. He highlighted the mounting U.S. tariffs tensions, deleveraging in credit score markets, and the seasonal volatility typically related to October. However, he emphasised that overly destructive sentiment might sign a contrarian shopping for alternative.
I perceive why markets are “wary”
– 🇺🇸 – 🇨🇳 tensions
– main deleveraging final week
– “cockroach” fears on non-public credit score
– October is month we are inclined to see 💥But…
– sentiment is destructive (AAII) = contrarian good
– solely 22% fund managers beating benchmark = chaseBTFD = our…
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) October 17, 2025
Lee identified that solely 22% of fund managers are at present outperforming their benchmarks. This means that many will quickly start to “chase performance,” a transfer that might reignite market momentum.
“BTFD — that’s our take,” he wrote. This indicators his perception that the downturn is extra of a setup for a rebound than the beginning of a deeper droop.
Backing up his bullish stance, BitMine expanded its ETH holdings by $417 million. The agency reportedly moved over 104,000 ETH from Kraken and BitGo into newly created wallets. This transfer is seen as a part of its long-term accumulation technique.
During a podcast dialogue, Tom Lee reaffirmed his conviction that Ethereum is getting into a brand new progress section. He predicted the token might attain $10,000 to $12,000 by the tip of 2025. His projection aligns with remarks from BitMEX co-founder Arthur Hayes. Hayes made a bullish ETH projection, calling latest market turbulence “background noise.”
Trump Seeks Tariff Reset With China
Meanwhile, world markets are additionally responding to recent developments in Trump’s U.S. tariff coverage. Trump confirmed he will meet with China’s President Xi Jinping in two weeks. He described the present U.S. tariffs on Chinese imports as “not sustainable.” The U.S president hinted at potential tariff reductions in pursuit of what he termed a “fair deal.” This might ease strain on the market.
Yesterday, Trump was requested whether or not the present U.S. tariffs would stay in place. He replied, “No — we’ll be fine with China.” This adjustment might considerably affect the crypto markets.
Adding one other layer to the week’s financial developments, Federal Reserve Chair Jerome Powell hinted at rate cuts within the coming FOMC assembly. Powell cited rising dangers within the labor market and subdued inflation expectations as justification for a extra accommodative stance.
Additionally, Federal Reserve Chair Jerome Powell urged fee cuts on the FOMC assembly, which was held this week. Powell justified a extra accommodative stance by pointing to rising labor market dangers and muted inflation expectations.
The crypto market skilled intense volatility over the previous 24 hours, resulting in greater than $1 billion in complete liquidations. Bitcoin accounted for $369 million of the whole, whereas Ethereum adopted with $262 million. Experts say these financial challenges might put the market again on observe when resolved.
