Bitcoin recently dipped below $90,000, reaching its lowest point in seven months. Tom Lee, chairman of BitMine, and Matt Hougan, chief investment officer at Bitwise Asset Management, suggest that this might indicate a market bottom is near.

In a CNBC interview, Lee stated, “Crypto is facing challenges after the significant liquidation event on October 10, and traders remain anxious about potential rate cuts from the Federal Reserve in December.” He further noted, “There’s downside pressure, but there are indicators showing we may be nearing a bottom soon.”

According to CoinGecko, Bitcoin’s price briefly fell under $90,000 on Tuesday, a level last seen in April. The slump has been attributed to various factors, including ETF outflows and long-term investors selling.

Tom Lee and Matt Hougan both believe a bottom in crypto prices is coming very soon. Source: YouTube

Generational Opportunity for BTC Investors

Hougan expressed agreement with Lee regarding the anticipated bottom, emphasizing that the current prices pose a “generational opportunity” for long-term investors. He pointed out that market uncertainty, including rising AI valuations and concerns over Trump’s tariffs, contributes to the current situation.

“I see this as a prime buying opportunity for those looking long-term. Bitcoin often signals market risk before broader trends.”

Lee remains optimistic, predicting that Bitcoin will recover its losses and achieve new heights by the year’s end, aided by a potential stock market rally. “I’m quite bullish on stocks and expect Bitcoin to reach an all-time high again,” Lee added.