Tom Lee: Recent selling pressure in the crypto market may be affected by the decline in AI stocks and capital diversion from IPOs; he remains bullish on the super cycle in the long term.

Fundstrat's Tom Lee attributed the recent crypto sell-off to margin calls triggered by declines in Nvidia and the AI and semiconductor sectors, alongside capital diverted toward Anthropic's potential IPO and Robinhood's retail share allocation program, plus selling by users refunded after major hacks. He said banking adoption of crypto and blockchain keeps advancing even as prices fail to reflect the improving fundamentals. Lee also flagged AI cybersecurity risks and expected tighter US scrutiny of Asian chip exports as further drags on sentiment. He remains bullish long term, arguing blockchain settlement and digital assets will transform capital markets and produce a super cycle larger than prior ones.