Benjamin Cowen shocked by Tom Lee's 'near bottom' market call

Crypto analyst and IntoTheCryptoverse founder Benjamin Cowen has expressed shock at a prediction from Bitmine (BMNR) Chairman Tom Lee that the crypto market is nearing a bottom, CryptoBasic reported. Cowen was reportedly surprised that Lee would call a bottom at a time when strong selling pressure remains across the market. Lee previously stated in a CNBC interview, when Bitcoin was trading around $77,000, that various indicators were signaling market stability and that industry fundamentals remained solid. CryptoBasic noted that Bitmine is known to have purchased approximately 4.3 million ETH at an average price of between $3,800 and $3,900. The position is now reportedly carrying an unrealized loss of more than $6.6 billion, which is expected to be recorded as one of the largest unrealized losses in financial history.