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Fundstrat Founder Tom Lee: Markets Could Bottom as Early as This Week, Friday's Jobs Data to Determine Short-Term Market Direction

Fundstrat Founder Tom Lee: Markets Could Bottom as Early as This Week, Friday's Jobs Data to Determine Short-Term Market Direction

Bitget2025/03/04 15:30
BTC-2.57%DOGE-5.05%

In a recent interview with CNBC on 4 March, Fundstrat Chief Investment Officer Tom Lee said that the broader market may be bottoming out, possibly as early as this week, according to CoinDesk.Lee highlighted the importance of the jobs data due out on Friday as a key event in determining the direction of the market in the short term.Lee's comments come amidst the against a backdrop of economic uncertainty during the Trump administration's 100-day plan. A number of factors have contributed to market volatility, including austerity measures introduced by the Department of Government Expenditure (DOGE) that have reduced public spending, and the uncertainty that tariff policies have created for businesses and investors.

Bitcoin has fallen more than 10 per cent this year, while the Nasdaq 100 Index is also down nearly 10 per cent. Still, Lee predicts bitcoin will top $150,000 by the end of the year, and believes the current price pullback is driven by cyclical market forces rather than negative news. Lee said there could be a brief panic if Friday's jobs data falls short of expectations, but that could also prompt the Fed to accelerate the pace of interest rate cuts. The futures market currently expects to cut rates by 75 basis points this year, bringing the federal funds rate down to the 3.50-3.75 per cent range.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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