Fundstrat: the fall of the crypto market is due to the problems of market makers

Fundstrat Capital CEO Tom Lee noted that the recent fluctuations in the cryptocurrency market may be caused by the financial difficulties of several large market makers. According to him, problems with the balance sheets of these participants have a negative impact on the overall market situation, which leads to speculative manipulations by "whales" trying to cause liquidations and lower prices.

Source Incrypted

Lee also noted that the increased volatility is more of a temporary phenomenon. He assured investors that this situation does not threaten the Ethereum "supercycle," which is associated with blockchain-based projects being developed on Wall Street. Lee's recommendation is to avoid leverage, as it can increase risks amid the current volatility.

At the same time, analysts believe that support for bitcoin is fixed at $94,000, which is explained by the cost of mining. This may indicate that there are certain barriers to further market decline, although the situation remains difficult.