Tom Lee comments on crypto market trends: Many institutional investors typically exit the market during the final holiday period of the year.

PANews, December 31 – Tom Lee, co-founder of Fundstrat and chairman of BitMine, posted on X: "Typically, during these final holiday trading sessions, many institutional investors exit the market. At this time, algorithmic trading programs and trading bots begin to dominate the market, along with tax-loss selling, all of which shape the market dynamics in the last few days of December."

Previously, in BitMine's announcement disclosing an increase of 44,463 Ethereum holdings last week, Tom Lee mentioned that as the year enters the final weeks of the holiday season, market activity often tends to slow down. Year-end tax-loss selling puts downward pressure on the prices of cryptocurrencies and crypto-related stocks, and this effect is usually most pronounced from December 26 to December 30. Therefore, they are adjusting their market strategies accordingly.

Earlier today, Bitmine staked another 118,944 ETH and increased its holdings by 32,938 ETH.