Tom Lee: There appears to be a significant "gap" in the balance sheets of one or two market makers.
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TL;DR
Tom Lee notes a 'gap' in market makers' balance sheets, with 'sharks' attacking to trigger BTC liquidations. He views this as short-term pain, not altering the ETH supercycle, and advises avoiding leverage.
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TOMCoinTom Leecryptocurrency marketmarket makersBTCETH supercycle
According to Mars Finance, BitMine Chairman Tom Lee posted on social media early this morning that the current weakness in the cryptocurrency market has distinct characteristics, suggesting a significant "gap" in the balance sheets of one or two market makers. Lee pointed out that "sharks" in the market are attacking, attempting to trigger liquidations and drive down the price of BTC. He believes this pain is short-term and will not change the ETH supercycle trend built on the blockchain by Wall Street. Now is not the time to use leverage, and he advises avoiding liquidation.