Bitcoin Hits $76K As Tech Stocks Push Wall Street To Fresh Records

Fundstrat’s chief investment officer, Tom Lee, says the next big move in markets won’t be led by stocks — it’ll be driven by crypto. Speaking Wednesday on CNBC’s “Closing Bell,” Lee argued that Bitcoin and Ether are positioned to lead the next leg of the rally, alongside the Magnificent 7 tech stocks and the broader software sector.

Crypto And Tech Move In Step

He also said some investors are still sitting on the sidelines, waiting for more clarity on the Middle East conflict before putting money to work — and that their eventual return could push prices higher.

His comments came on a day when markets moved decisively. The Nasdaq Composite closed at a new all-time high of 24,016, up 1.60% for the session.

The S&P 500 tagged its own record at 7,022, gaining 0.78%. Tech stocks as a group were up more than 2% on the day, according to data from Yahoo Finance.

Bitcoin kept pace. The world’s largest cryptocurrency briefly hit $76,000 on Wednesday, up roughly 1.20% over the prior 24 hours. That move was part of a broader run — BTC has climbed nearly 10% over the past two weeks.

A War Winding Down

Much of Wednesday’s optimism was tied to signals out of Washington. US President Donald Trump said that the US-Iran conflict may be close to ending. “If I pulled up stakes right now, it would take them 20 years to rebuild that country,” Trump said. “We’ll see what happens. I think they want to make a deal very badly.”

Trump stopped short of declaring victory. A deal, he made clear, has not been struck. But the tone was enough to lift investor confidence across both equity and crypto markets, with traders interpreting the comments as a sign that the geopolitical pressure weighing on risk assets could soon ease.

Lee, known for his bullish market calls, pushed back against any suggestion that the recent rally has run out of steam. He posted on X that stocks tend to bottom on bad news — not good — making the case that the upward move has further to go.

His view is that the market and US economy have held up well despite the ongoing conflict, and that the conditions for continued gains remain in place.

Whether crypto leads equities or simply rides alongside them remains to be seen. But on Wednesday, at least, both were pointing in the same direction — up.

Featured image from MetaAI, chart from TradingView