PANews reported on October 25th that Tom Lee said in an interview with CNBC: "Cryptocurrency has just experienced the largest liquidation and deleveraging event in history, the impact of which may be several times that of the FTX incident, but Bitcoin's ultimate decline remained in the range of 3%-4%. This fully demonstrates that Bitcoin itself is becoming a very resilient means of storing value. Imagine if the same impact occurred in the gold market: even in the face of a major liquidity crisis, if gold only fell by a few percentage points, the market would regard it as a solid proof of value anchor. Bitcoin's current performance is exactly the same. Driven by stablecoins, Ethereum's Layer 1 and Layer 2 networks are experiencing significant growth in activity, but this fundamental improvement has not yet been fully reflected in the currency price - market pricing generally has a lag effect. From my observation, the continued warming of on-chain fundamental activity actually provides a solid basis for major market fluctuations before the end of the year."