Markets
What to know:
- Lee believes the S&P 500 could climb an additional 4%-10% by year-end 2025, breaching 7,000, all thanks to the Fed’s cuts and an audience of skeptical investors.
- He described Oct. 10 as “the biggest liquidation event in five years” for crypto, and pointed out that record-low open interest and a sudden surge in technicals would likely trigger a year-end rally.
- Lee suggests that bitcoin acted as a dependable “store of value” during the market shake-up, while Ethereum‘s on-chain activity (driven by stablecoins) indicates a “pretty big move” for the year-end.
In the latest episode of CNBC’s “Closing Bell: Overtime,” Tom Lee, the head honcho at Bitmine Immersion Technologies (BMNR), Fundstrat Global Advisors, and the Chief Investment Officer of Fundstrat Capital (does he sleep?), shares his optimism for the year ahead. Buckle up, this could be a ride-both literal and figurative.
Pressed by the ever-curious Jon Fortt on whether the risk-on trade is back, Lee reminded everyone that he’s been wearing rose-colored glasses through the spring slump, proudly mentioning Fundstrat’s optimistic prediction for the S&P 500 target back in April, when it was at a lowly 6,600. I mean, who wouldn’t have guessed it?
With the index sitting around 6,800 and just 10 weeks to go in 2025, Lee confidently declared that a “typical year” could see an additional 4% growth-pushing us to 7,000! And, if the stars align, we could see a gain as large as 10%. Credit that boost to the Fed’s cuts, which he reminded us are a rare gem, having only been seen in 1998 and 2024 over the last 50 years. Because, of course, 2024 is the year everything goes right. 🤑
When asked by Fortt about crypto’s role amidst growing U.S.-China tariff tensions, Lee cheerfully referred to Oct. 10 as “the biggest liquidation event in five years.” Despite a few trade tantrums, bitcoin only dipped by 3%-4%, which Lee quickly framed as a victory. If gold had only fallen a few percentage points, he mused, we would’ve all been raising our glasses in celebration. 🍾
With optimism radiating from his every word, Lee claimed that both bitcoin and ether were at record lows in open interest-suggesting that we might be on the cusp of a “cleaner derivatives backdrop.” A backdrop, mind you, that historically precedes massive upside. Oh, and did I mention JPMorgan is considering using crypto as collateral? Because why not?
When pressed about whether crypto continues to lead the charge for equities, Lee again flaunted his crystal ball, stating that the signals look “pretty bullish.” He compared the behavior of bitcoin to the S&P 500, and saw ether as the equivalent of a growth signal for small caps, particularly the Russell 2000. Well, someone’s been doing their homework! 📚
As for fundamentals, Lee noted that Ethereum activity is rising on both L1 and L2 chains, driven by stablecoins. But don’t hold your breath for immediate price changes-it takes time, darling. This, of course, only fuels his belief in a “pretty big move” for both ETH and BTC by year-end. ⏳
And, in case you were wondering, U.S. stocks ended Friday on a high note. The S&P 500 stood at 6,791.69 (+0.79% on the day, +15.73% YTD), the Nasdaq at 23,204.87 (+1.15%, +20.35% YTD), and the Dow at 47,207.12 (+1.01%, +11.36% YTD). Meanwhile, as of Saturday at 12:50 p.m. UTC, bitcoin was hanging around $111,776 (+0.3% over 24 hours, +19.60% YTD), while ether was at $3,952 (−0.4% over 24 hours, +18.15% YTD). 📈
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2025-10-25 16:10