Fundstrat's 2026 bearish crypto guidance has heavily contrasted Tom Lee's public predictions.
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Leaked Fundstrat guidance warns of a sharp early-2026 crypto correction, contrasting Tom Lee’s Bitcoin and Ethereum predictions.
Fundstrat denies internal disagreement.
Tom Lee remains publicly bullish on Bitcoin and Ethereum.
A leaked document circulating on social media and attributed to Fundstrat Global Advisors warns of a sharp correction in cryptocurrency markets in early 2026, setting price targets for Bitcoin and Ethereum that sharply contrast with the public bullish forecasts of the firm’s chairman, Tom Lee.
Screenshots of the internal 2026 strategy guidance predicted Bitcoin could fall as low as $60,000, while Ethereum could decline to around $1,800.
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Screenshots of the purported internal guidance were first shared on X by a user known as Heisenberg (@Mr_Derivatives) and later amplified by crypto-focused accounts, including Wu Blockchain.
According to the posts, the internal outlook anticipates a “significant correction” in the first half of 2026, warning clients to prepare for heightened volatility and a substantial drawdown.
According to @_FORAB, Tom Lee's fund, Fundstrat, stated in its latest 2026 cryptocurrency strategy advice to internal clients that a significant correction is expected in the first half of the year, completely contradicting Tom Lee's public statements.
The document reportedly outlines downside ranges of:
Bitcoin: $60,000–$65,000
Ethereum: $1,800–$2,000
Solana: $50–$75
This internal guidance stands in stark contrast to Tom Lee’s consistently bullish public commentary on digital assets.
Fundstrat Claims No Internal Conflict, Despite Tom Lee Difference
In response to Wu Blockchain, Fundstrat’s Head of Digital Asset Strategy, Sean Farrell, said the differing crypto outlooks do not reflect an internal disagreement.
Farrell explained that the firm employs multiple analytical frameworks tailored to different client needs, portfolio sizes, risk tolerances, and investment horizons.
Fundstrat Head of Digital Asset Strategy Sean Farrell said the projections reflect different analysts. | Source: X
According to Farrell, his research focuses on active management strategies for clients with significant crypto exposure, where shorter-term volatility and drawdown risk are more relevant.
By contrast, Lee’s public commentary is primarily directed at large institutional investors considering relatively small allocations, typically 1% to 5%, to Bitcoin and Ethereum.
Lee’s Bullish Bitcoin Outlook
Tom Lee has continued to project substantially higher Bitcoin prices in public appearances and media interviews.
Earlier reporting from Bloomberg cited Lee as expecting Bitcoin to rise to between $150,000 and $200,000 by late January.
More recently, he told attendees at Binance Blockchain Week that Bitcoin could reach $250,000 within months.
While some of Lee’s forecasts were partially validated when Bitcoin reached new all-time highs in October 2025, several of his predictions have missed their expected timelines.
Bullish on Ethereum
Lee has also been outspokenly bullish on Ethereum, arguing that its role in real-world asset tokenization supports long-term upside.
“In 2025, we’re tokenizing everything — not just the dollar, but stocks, bonds and real estate,” Lee said on stage at Binance Blockchain Week. “Where they’re building this is on Ethereum.”
He added that Ethereum’s price had remained range-bound for several years but had recently begun to break out.
“Ethereum at $3,000 is grossly undervalued,” Lee said. He further noted that if Ethereum returned to its eight-year average ratio against Bitcoin, it could reach approximately $12,000.
The leaked document’s suggested downside target of $1,800–$2,000 for Ethereum stands in sharp contrast to those projections.
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.
