Tom Lee Drops the Bottom Signal: 'Worst Case Is Priced In, Here's My Pick-and-Shovel List'

Tom Lee, the perpetual crypto bull and Chairman of Bitmine (BMNR), has once again emerged from his research bunker to share some market wisdom with the masses. Speaking to CNBC, Lee declared he's spotted concrete signals that the market has found its floor. The man has called bottoms so many times he's basically the boy who cried bull.

The bull pointed to last week's US-Iran escalation and surging oil prices failing to knock the stock market down as a 'positive divergence' and sign of bottoming out. Apparently, the market's been punched in the face so many times lately that it's developed a tolerance—or at least that's what the hopium dealers are telling themselves this week.

Lee noted that negative risks have already been digested by the markets, which are now showing resilience to bad news like a heavyweight boxer who can't be knocked out. Or more accurately, like a degen who's lost so much money they just stare blankly at their screen while their wife boyfriend asks about their portfolio.

He added that historically, the stock market tends to bottom early in wars, while most equities experience bear markets and sharp corrections before finding support. So basically, we're all just waiting for the markets to remember they're supposed to be scared.

In Lee's view, selling pressure has largely dissipated and positions have been zeroed out, meaning the worst-case scenario is likely behind us and the bottom is in. Revolutionary concept, right? Except we've heard "worst case priced in" approximately 847 times this cycle.

For those wondering where Lee plans to deploy his capital, he outlined his preferred hunting grounds: Ethereum, Bitcoin, other leading cryptocurrencies, the Magnificent 7 (US tech giants), and technology and software-related stocks. A classic pick-and-shovel play wrapped in a bull flag emoji.

So there you have it, degens. Tom Lee has spoken, and the bottom has been called. Take that as you will. And remember, when Tom Lee says the bottom is in, that's usually when you should check if your stop losses are working properly.

*This is not investment advice.