Tom Lee: This is definitely not the end of the crypto boom, but rather the inevitable 'rage quitting' at the tail end of the crypto winter. In May, the $21 billion siphon effect from tech stocks caused crypto ETFs to suffer their largest single-month outflow of $2.43 billion, but the asset rotation by big money has never stopped. Tom Lee's key trends: The backlash of AI explosion: After AI agents take over the web and commercial networks, machine-generated fraud will force the entire internet to seek decentralized identity and verification infrastructure. This is a fundamental need for crypto networks. Tokenization in traditional finance: Wall Street is moving assets onto the blockchain on a large scale to improve settlement efficiency. Historical data shows that for every additional dollar in tokenized assets, $ETH gains one dollar in real market value. Wallet network effects: 87% of Bitcoin's price growth can be explained by its wallet base. If its network value aligns with gold at $5,000/oz, the endgame for $BTC is $2 million.