The post Tom Lee, Matt Hougan Say Bitcoin May Bottom Out This Week appeared on BitcoinEthereumNews.com. BitMine chair Tom Lee and Bitwise Asset Management CIO Matt Hougan have suggested that Bitcoin (BTC) could be nearing a bottom, potentially as soon as this week. This comes as Bitcoin extended its downtrend today, plunging to a seven-month low during early Asian trading hours. Sponsored Sponsored Could Bitcoin Be Ready to Bounce Back? Earlier today, Bitcoin dropped below $90,000, deepening an over two-month-long decline that has erased its gains for 2025. The flagship cryptocurrency now sits 29% below its all-time high (ATH) of October 6. At press time, it traded at $89,973, having suffered a 5.47% daily loss. The correction has shaken market confidence and pushed market sentiment into extreme fear. Bitcoin (BTC) Price Performance. Source: BeInCrypto Markets BitMine’s Chairman, Lee, explained that the recent decline in the cryptocurrency market is largely tied to two major factors. The first is a massive liquidation event on October 10. He described it as the largest of its kind in the industry’s history. The second is growing investor anxiety ahead of the Federal Reserve’s December meeting. Because crypto is viewed as a risk-on asset, any hint of a hawkish tone from the Fed tends to rattle sentiment and push prices lower. Despite the pressure, Lee noted that there are emerging signs the sell-off may be losing steam. The executive told CNBC that, Sponsored Sponsored “I think the good news is there are signs of exhaustion. I did speak with Tom Demark of Demark Analytics and you know he thinks there are signs that would look like a bottom that could be occurring sometime this week.” Bitwise’s Hougan shared this view, saying he “exactly” agrees with Lee’s assessment. He added that, from his perspective, the recent downturn represents a strong buying opportunity for long-term investors. “Bitcoin was the first thing to turn over… The post Tom Lee, Matt Hougan Say Bitcoin May Bottom Out This Week appeared on BitcoinEthereumNews.com. BitMine chair Tom Lee and Bitwise Asset Management CIO Matt Hougan have suggested that Bitcoin (BTC) could be nearing a bottom, potentially as soon as this week. This comes as Bitcoin extended its downtrend today, plunging to a seven-month low during early Asian trading hours. Sponsored Sponsored Could Bitcoin Be Ready to Bounce Back? Earlier today, Bitcoin dropped below $90,000, deepening an over two-month-long decline that has erased its gains for 2025. The flagship cryptocurrency now sits 29% below its all-time high (ATH) of October 6. At press time, it traded at $89,973, having suffered a 5.47% daily loss. The correction has shaken market confidence and pushed market sentiment into extreme fear. Bitcoin (BTC) Price Performance. Source: BeInCrypto Markets BitMine’s Chairman, Lee, explained that the recent decline in the cryptocurrency market is largely tied to two major factors. The first is a massive liquidation event on October 10. He described it as the largest of its kind in the industry’s history. The second is growing investor anxiety ahead of the Federal Reserve’s December meeting. Because crypto is viewed as a risk-on asset, any hint of a hawkish tone from the Fed tends to rattle sentiment and push prices lower. Despite the pressure, Lee noted that there are emerging signs the sell-off may be losing steam. The executive told CNBC that, Sponsored Sponsored “I think the good news is there are signs of exhaustion. I did speak with Tom Demark of Demark Analytics and you know he thinks there are signs that would look like a bottom that could be occurring sometime this week.” Bitwise’s Hougan shared this view, saying he “exactly” agrees with Lee’s assessment. He added that, from his perspective, the recent downturn represents a strong buying opportunity for long-term investors. “Bitcoin was the first thing to turn over…