Fundstrat World Advisors co-founder Tom Lee mentioned Monday Bitcoin has not but peaked and will attain a brand new all-time excessive as quickly as this month, doubling down on a bullish crypto and fairness outlook throughout a CNBC Squawk Box appearance.
“I don’t suppose bitcoin has peaked but,” Lee mentioned. “We have been overly optimistic about reaching the high-water mark earlier than December, however I do consider that bitcoin can hit a brand new all-time excessive by the tip of January 2026. So, we should always not assume that the costs of bitcoin, ethereum, or different cryptocurrencies have already peaked.”
The decision comes after a late-2025 pullback throughout digital belongings and positions January as a possible breakout month, a notable escalation in Lee’s long-running crypto bull case. In August, Lee predicted bitcoin would surpass $200,000 earlier than the tip of final yr. Bitcoin finally hit an all-time excessive north of $126,000 in October, effectively beneath Lee’s prediction, and traded at round $88,500 on Dec. 31, 2025, based on CoinDesk data.
Lee predicted 2026 will probably be a unstable however finally constructive yr for crypto markets. Nevertheless, he warned of near-term turbulence pushed by institutional repositioning earlier than a stronger second half.
“2026 goes to be a yr of two halves. The primary half of 2026 could also be robust as we cope with institutional rebalancing and a ‘strategic reset’ within the crypto markets, however that volatility is precisely what units the stage for the large rally we count on within the again half,” he mentioned.
In response to Lee, the reset will not be an indication of structural weak point however slightly a digestion section following a number of years of outsized features throughout danger belongings.
Lee was particularly bullish on ether, arguing that the asset is getting into a multi-year growth section harking back to Bitcoin’s 2017–2021 run. Final yr, he mentioned ether would hit an all-time-high of $15,000 by December. This prediction was additionally a miss; the cryptocurrency’s highest value in 2025 was $4,830, and it traded at roughly $3,300 in December. In Monday’s look, he demonstrated his continued bullish ETH stance, together with his crypto mining agency Bitmine Immersion Applied sciences buying extra ether. It now holds 4.14 millions.
“Our perception is that Ethereum is dramatically undervalued,” Lee mentioned. “We consider ETH is getting into a supercycle much like Bitcoin from 2017 to 2021.”
He framed ETH publicity as a balance-sheet crucial slightly than a speculative wager. “Buying an asset that may admire by 10 instances or extra is a strategic necessity for any fashionable treasury,” Lee mentioned.
Past crypto, Lee outlined certainly one of Wall Road’s most aggressive fairness forecasts, projecting the S&P 500 to succeed in 7,700 by the tip of 2026 on the again of resilient company earnings.
“For those who take a look at the basic energy of the U.S. financial system and the AI-driven productiveness features, we’re a path to S&P 7,700 by year-end 2026,” Lee mentioned. “That is supported by an EPS story that’s much more resilient than the bears are giving it credit score for.”
Nonetheless, Lee framed any pullbacks as alternative slightly than warning. “There’s lots to be optimistic about in 2026.”
UPDATE (Jan. 5, 2026, 18:05 UTC): Provides extra element, corrects Bitcoin’s all-time excessive value.
