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Tom Lee says crypto has passed through much of bear market, now in mid-cycle correction

Fundstrat co-founder Tom Lee said the cryptocurrency market has already moved through a substantial bear phase and that investor sentiment and positioning now look closer to a bottom than a typical top. He said short positions were at levels usually seen mid-bear market. Real Vision founder Raoul Pal also said the current moves looked like a mid-cycle correction, citing liquidity indicators and an extreme reading in the crypto Fear & Greed index.