Tom Lee Sees Bitcoin Reaching Record Levels in January, Warns of a Volatile Year Ahead

Tom Lee Predicts January Bitcoin Record, Flags Volatile 2026 Ahead

Fundstrat Global Advisors co-founder Tom Lee said Monday that bitcoin (BTC $92,248.07) has yet to reach its peak and could hit a new all-time high as early as January, reinforcing a bullish outlook for crypto and equities during a CNBC Squawk Box appearance.

“I don’t think bitcoin has peaked yet,” Lee said. “While we were overly optimistic about reaching the high-water mark before December, I believe bitcoin can set a new all-time high by the end of January 2026. Prices for bitcoin, ethereum, and other cryptocurrencies have not yet topped out.”

The call follows a late-2025 pullback across digital assets, positioning January as a potential breakout month. In August, Lee had predicted bitcoin would surpass $200,000 by year-end. Bitcoin reached a record above $126,000 in October but traded near $88,500 on Dec. 31, 2025.

Lee said 2026 will be a year of two halves: a volatile first half driven by institutional rebalancing, followed by a stronger second half. “This strategic reset is not a sign of weakness but a normal digestion phase after years of outsized gains,” he said.

He also highlighted ether (ETH) as entering a multi-year expansion akin to Bitcoin’s 2017–2021 cycle. Bitmine Immersion Technologies, Lee’s crypto mining firm, now holds 4.14 million ETH. “Ethereum is dramatically undervalued and acquiring ETH is a strategic necessity for modern treasuries,” he said.

On equities, Lee projected the S&P 500 could reach 7,700 by year-end 2026, supported by resilient corporate earnings and AI-driven productivity. “Any pullbacks in 2026 should be viewed as opportunities. There’s a lot to be optimistic about,” he concluded.