On December 31, Tom Lee, chairman of Ethereum treasury company BitMine, stated on social media that "typically during these 'holiday' trading days at the end of the year, many institutional investors temporarily leave the market, and the market is mainly driven by the following factors:
Quantitative programs and trading robots;
Tax-related stop-loss selling;
This is precisely the typical characteristic of market performance in the last few days of December.
As previously reported by BlockBeats, on December 29, CoinShares released its latest weekly report stating that digital asset products saw an outflow of $446 million last week, bringing the total outflow since October 10 to $3.2 billion, indicating that market sentiment has not yet fully recovered.
