Tom Lee: Recent selling pressure in the crypto market may be driven by falling AI stocks and capital diversion to IPOs, but remains bullish on a super cycle in the long term.

TechFlow: On November 15, Tom Lee posted on the X platform stating that cryptocurrencies have continued to face significant selling pressure over the past few weeks. Despite overall positive progress in banks adopting cryptocurrency and blockchain technology, market prices have failed to synchronize with the improving fundamentals.

Tom Lee analyzed that the downturn in Nvidia (NVDA) and the AI and semiconductor sectors may trigger margin calls, forcing some investors to sell off crypto assets. Meanwhile, Anthropic's potential IPO, Robinhood's related stock allocation plan for retail investors, and the cashing out by users affected by recent large-scale hacking incidents after receiving fund refunds could also exert additional selling pressure.

Furthermore, AI cybersecurity risks and expectations that the US will strengthen its scrutiny of chip exports to Asia may further dampen market sentiment.

However, Tom Lee remains bullish on the long-term development of the crypto industry, believing that blockchain settlement and digital assets will drive a transformation in capital markets and potentially spark a super cycle surpassing previous ones in scale.