ChainThink report, March 22: Tom Lee, Chairman of BitMine, Ethereum treasury company, stated in an interview with CNBC, "We maintain our year-end target for the S&P 500 at 7,700 points, which is actually a conservative estimate—we’ve only assumed moderate P/E expansion this year. Despite the significant short-term shock and uncertainty caused by the war, including its impact on monetary policy, the conflict may ultimately be beneficial for the U.S. economy and U.S. equities over the long term. By year-end, markets will gradually shift focus from the crisis itself to the opportunities embedded within it. Historically, in each of the past eight major war events, markets began forming bottoms during the initial phase of conflict."

On whether current market sentiment is overly optimistic, Tom Lee remarked, "We have already experienced a bear market cycle—energy stocks were in a three-year bear market last year, financials are also trending downward, and the MAG-7 are similarly in a downturn. These sectors collectively account for approximately 70% of the S&P 500. Even prior to the outbreak of war, gold had already exhibited a parabolic rally, indicating that markets had already begun pricing in geopolitical uncertainty, and investors had largely completed their de-risking process."