Tom Lee Says Tech Selloff Hit a Bottom as VIX Structure Normalized

BitMine Chairman Tom Lee said Tuesday that last week’s technology-stock selloff marked a market bottom, citing Monday’s gains despite negative weekend headlines and a return to normal in the VIX term structure.

Lee said markets rising despite bad news is often a sign of a bottom. The VIX term structure was inverted last week, meaning near-term implied volatility exceeded longer-term volatility. It had returned to normal by Tuesday, which Lee described as a typical bottom signal. He said markets were safer than many investors believed.

Lee made a similar call in October, saying the technology selloff was nearing its final stages and that he planned to add exposure to crypto assets and Nvidia. His earlier assessment of the technology selloff also included that planned increase in exposure.