BlockBeats News, June 10th. Tom Lee, Chairman of the largest Ethereum treasury BitMine, stated in an interview with CNBC that the current market is showing signs of anxiety, mainly due to fund reallocation before the SpaceX IPO and the market digesting the previous gains. The SpaceX IPO is set to raise $750 billion and will be included in the Nasdaq 100 Index. Therefore, many institutional funds need to raise funds in advance not only to participate in the IPO but also to reserve cash for establishing a sufficient weight position in the secondary market after listing. He believes that this means institutions may sell off some of the recently surged stocks, putting pressure on chip stocks.

Tom Lee believes that storage chip stocks and the semiconductor sector have still held above last Friday's low, indicating that the relevant charts have not completely broken down. The current pullback is healthy, and he does not believe it will disrupt the overall trend of tech stock trading. The first day of trading for SpaceX is crucial. If SpaceX performs poorly, it will provide a basis for those who think the market has peaked. However, he stated that since many people currently believe that the SpaceX IPO marks the top, from a contrarian perspective, this may not actually be the peak.

Tom Lee still believes that tech stocks will continue to lead the market's upward trend and expects the current pullback to be bought into. He predicts that this year, the market will still follow a "three-phase" trajectory, with a strong upward trend likely to continue in the foreseeable future. However, a pullback may occur later this year, possibly nearing the expiration of the IPO lock-up period and related supply pressure. The subsequent second-stage market retreat may be driven by three factors: the market testing the policy path of the new Federal Reserve Chair Kevin Warsh, stock supply from the expiration of large IPO lock-up periods, and the potential energy shortage pressure later this year.