Tom Lee Predicts January Bitcoin Record, Expects Volatile 2026
Fundstrat Global Advisors co-founder Tom Lee said Monday that bitcoin (BTC $92,248.07) has not yet peaked and could reach a new all-time high as early as January, reinforcing a bullish outlook for crypto and equities during a CNBC Squawk Box appearance.
“I don’t think bitcoin has peaked yet,” Lee said. “While we were overly optimistic about reaching the high-water mark before December, I believe bitcoin can hit a new all-time high by the end of January 2026. Bitcoin, ethereum, and other cryptocurrencies still have room to grow.”
The forecast comes after a late-2025 pullback across digital assets. In August, Lee predicted bitcoin would surpass $200,000 by year-end; it ultimately reached $126,000 in October and traded near $88,500 on Dec. 31, 2025.
Lee said 2026 will be volatile but ultimately constructive. “The first half may be challenging due to institutional rebalancing, but this reset sets the stage for a stronger second half,” he said, framing it as a normal digestion following years of outsized gains.
Lee is also bullish on ether (ETH), comparing its outlook to Bitcoin’s 2017–2021 expansion. His mining firm, Bitmine Immersion Technologies, now holds 4.14 million ETH. “Ethereum is dramatically undervalued. Exposure is a strategic necessity for modern treasuries,” he said.
On equities, Lee projected the S&P 500 could reach 7,700 by year-end 2026, supported by resilient corporate earnings and AI-driven productivity. “Any pullbacks should be viewed as opportunities. There’s a lot to be optimistic about,” he concluded.
