TOM LEE SAYS CRYPTO SENTIMENT IS CLOSE TO ROCK BOTTOM.

$ETH IS DOWN ROUGHLY 40% OVER THE PAST 10 DAYS.

HE NOTES THAT SIMILAR “IS CRYPTO VIABLE?” NARRATIVES APPEARED AFTER FTX IN NOVEMBER 2022.

HISTORICALLY, ETHEREUM HAS EXPERIENCED SEVEN DRAWDOWNS OF MORE THAN 60% OVER THE LAST EIGHT YEARS, EACH FOLLOWED BY A SHARP RECOVERY.

VOLATILITY IS NORMAL FOR THIS MARKET.

THE KEY QUESTION IS WHETHER THIS ZONE MARKS ANOTHER RESET.