Tom Lee: Crypto and chip stocks rebound near support levels; uptrend imminent

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On October 17, 2026, Tom Lee, chairman of the Ethereum treasury firm BitMine, told CNBC that cryptocurrencies, chip stocks, and neocloud companies are nearing support levels and close to a rebound. He noted that the Fear & Greed Index is currently skewed toward fear, with these assets retracing to key support levels. If fundamentals remain strong, he anticipates a clear upward trend ahead.

BlockBeats news, on October 17, Tom Lee, Chairman of BitMine, the Ethereum treasury company, said in an interview with CNBC yesterday that if fundamentals remain stable, cryptocurrencies, chip stocks, and neocloud companies will be "on the verge of breaking out." All have "retraced to support levels."


Tom Lee believes that when fundamentals remain stable but the market becomes fearful, “this is actually a quite favorable risk-reward profile.”

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