PANews reported on October 18th that Tom Lee, co-founder of Fundstrat and chairman of Ethereum treasury company BitMine, published an article on the X platform analyzing the reasons for the current market's "caution," including: significant deleveraging in the crypto market last week, concerns about a "cockroach crisis" in private credit (JPMorgan Chase CEO Jamie Dimon recently used the "cockroach" metaphor to describe the potential risks in the US credit market. He pointed out in the earnings conference that the discovery of one cockroach often means the existence of more of the same kind, and the industry is a $3 trillion industry with weak regulation and insufficient transparency), and the "market explosion" that typically occurs in October.

However, Tom Lee pointed out that the negative market sentiment indicates that there will be a counter-trend positive trend. The fact that most fund managers' performance is lower than the industry benchmark means that they will accelerate the pursuit of investment returns before the end of the year. Therefore, his advice is: buy on dips (BTFD: Buy The F**king Dip).