Is Bitcoin’s next all-time high just around the corner? Here’s what Tom Lee expects December to bring

Bitcoin hasn’t hit its peak, according to Fundstrat co-founder Tom Lee. Come January 2026, expect a new all-time high if the Federal Reserve pivots from quantitative tightening.

Despite the downturn in November, Lee predicts Bitcoin (BTC) will recover and “make a new all-time high by January.”

In an appearance on CNBC, Lee explained that “today is the day that QT ends,” referring to the Fed’s long-running quantitative tightening.

Historically, Lee notes, when the Fed paused QT in September 2019, markets rallied 17% in just three weeks. If history repeats, Bitcoin could be ripe for a rally.

As for December, expect investors to warm up to Bitcoin again as the Federal Reserve changes its stance — “a tailwind” for Bitcoin and equities alike.

“I don’t think the Bitcoin high is in place,” Lee said.

Bitcoin has a ways to go

Top crypto analysts remain bullish on Bitcoin even though it is currently languishing at just above $86,700, down over 21% from a month ago. See below.

Lee maintains that the coin will ultimately soar to the psychological point of $100,000 by the end of the year.  

He also expects Bitcoin to ultimately soar to its all-time high in 2026 and possibly reach $200,000. He cited factors such as potential Federal Reserve interest rate cuts and growing institutional demand in the US and other countries. 

Lee has become a significant investor in the crypto industry through BitMine. The company, of which he is chairman, has become the largest holder of Ethereum (ETH).