TOM LEE: BITCOIN ETF IS THE MOST SUCCESSFUL PRODUCT IN HISTORY BUT THE PRICE HAS ONLY INCREASED SLIGHTLY RECENTLY

- Tom Lee said that the Bitcoin ETF is the most successful product launched to date.

- However, the price of Bitcoin has only increased slightly and then stabilized because many people have transferred their existing Bitcoin into the ETF in exchange for shares instead of buying new on the market, which has not caused a significant price increase.

- In addition, many investors who bought Bitcoin when the price was only 100 USD have made significant profits. They are willing to sell when the price is around 100,000 USD, creating selling pressure to take profits.

- Currently, 95% of large institutions have not yet bought Bitcoin. Therefore, the majority of transactions are from those who have held Bitcoin for a long time and are looking to sell to realize profits. We are seeing a significant shift in who owns Bitcoin.

- Sellers are mainly those who have made substantial profits, while the number of buyers is increasing.