Originally reported by PANews on November 15, 2026, at 09:48 (UTC+8). Bitmine chairman Tom Lee said crypto assets had faced sustained selling pressure over the preceding weeks. He contrasted that with what he described as positive fundamentals, including banks announcing crypto and blockchain adoption, while prices had not risen alongside those announcements.
Lee offered four explanations for the selling pressure:
- Sharp declines in AI and semiconductor stocks, including Nvidia, had triggered margin calls, particularly among Asian retail investors.
- Investors were selling assets to raise funds ahead of what he described as an upcoming Anthropic IPO.
- He said a relatively high retail allocation for Anthropic on Robinhood had led some investors to sell crypto to participate.
- He said funds from a recent $6.3 billion hack had been returned to account holders, who were converting holdings into cash or stablecoins.
These are Lee’s explanations, not independently established causes of crypto price moves in the report. The source provides no market readings with which to measure their relative impact.
