Tom Lee is once again going bullish on Bitcoin and Ethereum. | Credit: CCN.
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Key Takeaways
Bitcoin has exited “extreme fear” for the first time in months.
Fundstrat’s Tom Lee drew criticism on social media after reiterating aggressive Bitcoin and Ethereum price targets in relation to Gold and Silver.
Lee’s targets for Ethereum and Bitcoin were previously called “unlikely to materialize” by analysts.
Gold and silver’s explosive rally to start 2026 is fueling renewed debate over whether Bitcoin (BTC) could follow the same path, spurred on by bullish comments from Fundstrat’s Tom Lee.
It comes as Bitcoin has climbed out of “extreme fear” territory for the first time in months, according to sentiment indicators.
Despite the renewed optimism, Lee’s comments that gold’s historic gains will ultimately translate into a fresh rally for digital assets are coming under fire from disgruntled traders, following a slew of missed predictions.
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The Crypto Fear & Greed Index, which tracks volatility and social media trends, had remained firmly in fearful territory since early November.
That mood has begun to ease, even as uncertainty remains elevated.
In a commentary shared this week, the firm noted that investors are entering the new year with conflicting emotions, shaped by both recent drawdowns and signs of recovery.
“Some mourn personal losses while others celebrate crypto gains and community resilience,” Santiment said.
“The market shows signs of recovery as holders express pride in profits and continued commitment,” the firm added.
Under-Fire Tom Lee Links Gold to Bitcoin
However, optimism around the recovery has not been universally shared, particularly following comments from Fundstrat co-founder Tom Lee, who once again bullishly linked Bitcoin’s outlook to moves in gold and silver.
Lee argued that recent strength in precious metals supports a bullish case for digital assets.
He highlighted that silver has surged sharply over the past month, while gold has climbed aggressively over the past year, adding that major commodity rallies have historically preceded gains in cryptocurrencies.
Silver $SLV parabolic in past month Gold $GLD parabolic in past year
Gold moves lead crypto
If these large commodity markets make such a move, how can one be skeptical of digital assets in 2026? $ETH$BTCpic.twitter.com/ko7BmRbRW5
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) December 31, 2025
Lee wrote: “If these large commodity markets make such a move, how can one be skeptical of digital assets in 2026?”
The comments quickly drew criticism on social media platform X, where some users pointed to Lee’s earlier forecasts.
“Please for the sake of your career just stick to equities,” one X user wrote.
X users spoke out against Tom Lee’s newest outlook.
Another said: “Maybe because you literally said BTC and ETH will be higher than what they are now before today actually (the end of the year).
“Also, you said it couldn’t go lower and they did actually.”
Precious Metals Gain
Gold and silver extended their rally at the start of 2026, adding to what Bloomberg described as their strongest annual performances in more than four decades.
Gold traded near $4,375 an ounce, while silver climbed more than 2%, continuing momentum built during a banner year for precious metals.
However, TD Securities senior commodity strategist Daniel Ghali said a significant volume of silver positioning could unwind in the coming weeks.
Ghali estimated that roughly 13% of total open interest in Comex silver markets could be sold over the next two weeks, a move he said may trigger a sharp repricing.
Despite the short-term risks, Bloomberg noted that precious metals delivered an exceptionally strong run in 2025, albeit with increased volatility toward the end of the year as some investors took profits and technical indicators signaled overbought conditions.
Tom Lee’s History of Bullish Predictions
Lee has remained one of Bitcoin’s most vocal bullish advocates.
Bloomberg previously reported that he expected Bitcoin to rise to between $150,000 and $200,000 by late January, a view he later extended, saying onstage at Binance Blockchain Week that prices could reach $250,000 within months.
In hindsight, Lee’s track record in 2025 has been mixed.
While his broader directional optimism was partly validated when Bitcoin reached new all-time highs in October, his calls consistently overshot on timing and magnitude.
CCN’s education team reported that Lee’s early-March projection that Bitcoin could exceed $150,000 by year-end proved overly optimistic.
That target was later raised in September, when Lee suggested Bitcoin could “easily” hit $200,000 under favorable conditions, another forecast that fell short.
Ethereum Prediction Also Unlikely?
Skepticism over Tom Lee’s latest price forecasts has also emerged from technical analysts, who argue that current chart signals contradict the bullish projections.
Valdrin Tahiri, a CCN analyst, said on Dec. 5 that Lee’s outlook for Ethereum implied an aggressive valuation for Bitcoin that is difficult to justify based on market structure.
“Another part of Tom Lee’s prediction is that Ethereum will hit $62,000,” Tahiri said.
“Given the 0.25 BTC prediction, this would imply that Bitcoin will be valued at approximately $248,000.”
Tahiri said technical indicators point in the opposite direction.
“Judging by the bearish divergences in the weekly time frame, this seems extremely unlikely,” he said, referring to weakening momentum visible on long-term Bitcoin charts.
While relative strength metrics for Ethereum remain more constructive, Tahiri noted that Bitcoin has already lost key support.
“The Ethereum to Bitcoin chart shows the RSI holding above 50, but it has already broken down in the case of Bitcoin,” he said.
Tahiri added that Bitcoin’s broader price structure remains fragile, with the market trading within an ascending parallel channel that is at risk of failure.
“The only way to prevent the breakdown is if Bitcoin’s price reclaims the ascending parallel channel,” he said, adding that “there are no signs that suggest this will be the case.”
As a result, Tahiri said Lee’s high-conviction forecasts are unlikely to play out.
“Thus, Tom Lee’s predictions for Ethereum and Bitcoin are unlikely to materialize,” he said.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
