Tom Lee says Bitcoin could still reach $150,000-$200,000 by year-end despite October's 'mini-tsunami'

Tom Lee says Bitcoin could still reach $150,000-$200,000 by year-end despite October's 'mini-tsunami'

Fundstrat’s Tom Lee is confident that Bitcoin can still end 2025 with a massive rally despite the turmoil that has rocked the crypto market since mid-October.

Fundstrat Global Advisors' head of research told CNBC that he believes Bitcoin could reach $150,000 to $200,000 by the end of the year, even after what he described as one of the largest liquidation events in crypto history.

“If you look back at what happened after October 10th, that was the biggest liquidation in crypto history, bigger than FTX and the tsunami of margin calls, and we're only weeks away from that,” Lee said.

For context, on October 10, President Trump announced across-the-board 100% tariffs and new export restrictions on Chinese products in response to China's aggressive rare earth regulations. His remarks caused a sharp decline in global markets and crypto assets as a whole.

Bitcoin plummeted from around $117,000 to below $108,000, but bounced back to the $113,000 level amid extreme volatility. Since then, Bitcoin and the broader crypto market have fallen to a low of $104,000 and are currently settling at $107,000.

“I think the market is consolidating. But if you look at the fundamentals, like Ethereum and stablecoin volumes exploding and application revenues hitting record highs, the fundamentals are now driving the price of cryptocurrencies,” Lee said.

Lee said the recent weakness may just be a pause before rallying again, with solid fundamentals quietly setting the stage for a year-end rally.

“Eventually it will consolidate and go up towards the end of the year. Bitcoin is around $150,000 to $200,000 and Ethereum is around $7,000,” he added.

Broadly bullish outlook outside of Bitcoin

Lee's optimism isn't limited to Bitcoin.

In the same interview, he argued that U.S. stocks remain in a strong position despite continued concerns about China, the Federal Reserve and a possible government shutdown.

“The market has now gone up for six consecutive months, something like this has only happened six times since 1928,” Lee noted. “If you look at November, it should be very strong. I think the S&P index will be at least 200 points, maybe 250 points.”

He cited negative investor sentiment and underperforming fund managers as contrarian indicators for further upside.

Mr Lee said more than 80% of fund managers had underperformed their benchmarks this year, creating the possibility of a “catch-up” towards the end of the year.

“Investors feel like it's a bear market, but we're up 17%, which tells us there's a big catch-up going into the end of the year,” he said.

“A good year ends well.”

When asked if it was still possible for Bitcoin to soar above $150,000 given the recent weakness, Lee did not hesitate.

“Well, I think Bitcoin can still reach $150,000 to $200,000,” he said confidently, adding that Ethereum could follow suit towards $7,000.

For Lee, preparations for the end of the year reflect the situation he sees across broader risk assets. The market is climbing a “wall of fear” and is poised to break out again once the consolidation is over.

“A strong year ends strong,” he reminded viewers.

This article, Tom Lee Says Bitcoin Still Could Reach $150,000 to $200,000 by Year-end Despite October's 'Mini-Tsunami' was originally published in Bitcoin Magazine and is written by Mika Zimmerman.