Tom Lee Predicts Bitcoin All-Time High by End of January 2026

TLDR

• Tom Lee predicts Bitcoin will hit a new all-time high by the end of January 2026, despite currently trading around $93,200
• Lee forecasts 2026 will have a volatile first half due to institutional rebalancing, followed by a strong rally in the second half
• He calls Ethereum “dramatically undervalued” and expects it to enter a supercycle similar to Bitcoin’s 2017-2021 run
• His firm Bitmine Immersion Technologies now holds 4.14 million ETH, showing confidence in the asset
• Lee also predicts the S&P 500 will reach 7,700 by end of 2026, driven by AI productivity gains and strong corporate earnings

Fundstrat Global Advisors co-founder Tom Lee said Monday that Bitcoin has not peaked yet. He expects the cryptocurrency to reach a new all-time high by the end of January 2026. Lee made these comments during an appearance on CNBC’s Squawk Box.

Bitcoin previously reached an all-time high above $126,000 in October 2025. The cryptocurrency traded around $88,500 on December 31, 2025. As of January 5, 2026, Bitcoin was trading at approximately $93,200.

Lee’s prediction comes after a late-2025 pullback in digital asset prices. In August 2025, he had predicted Bitcoin would surpass $200,000 before the end of last year. That forecast did not materialize.

Two Halves for Crypto Markets in 2026

Lee outlined his view that 2026 will be split into two distinct periods. The first half may face challenges as institutions rebalance their portfolios. This period represents what Lee calls a “strategic reset” in crypto markets.

Lee explained the current period as a digestion phase. Markets are processing multiple years of gains across risk assets. This reset does not indicate structural problems in the crypto market.

Lee expressed strong bullish views on Ethereum during his appearance. He described the asset as “dramatically undervalued” at current prices. Lee compared Ethereum’s potential trajectory to Bitcoin’s run from 2017 to 2021.

His crypto mining firm Bitmine Immersion Technologies recently acquired more ETH. The company now holds 4.14 million tokens. Last year, Lee predicted Ethereum would reach $15,000 by December 2025.

That prediction missed the mark. Ethereum’s highest price in 2025 was $4,830. The cryptocurrency traded around $3,300 in December 2025.

Stock Market Forecast Alongside Crypto Outlook

Lee also shared one of Wall Street’s more aggressive equity forecasts. He projects the S&P 500 will reach 7,700 by the end of 2026. This outlook is based on resilient corporate earnings and economic strength.

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