Bollcoin, October 23 — BitMine Chairman Tom Lee said in a CNBC interview that the market is in a selloff, with technology and semiconductors under heavy pressure. Defensive sectors, by contrast, have strengthened, and the market is showing clear risk-off characteristics. The market is currently overly pessimistic, and his technical analyst Mark Newton believes tech stocks have essentially hit support levels. In addition, Tom Lee noted that although the market worries about excessive spending in AI, continued technological breakthroughs and the prudent discipline demonstrated in the debt market are precisely signals of a healthier investment cycle. For investors, it is crucial to distinguish this: a valuation pullback does not necessarily mean the end of the AI technology wave.