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Tom Lee Predicts Bitcoin’s Next Bull Run — $200K in Sight

Tue Nov 04 2025

Fundstrat’s Tom Lee says Bitcoin’s consolidation is ending as inflation cools and institutional inflows rise. Targets: $200K for BTC and $7K for ETH by year-end.

Tom Lee Says the Crypto Chill Is Over — Bitcoin Eyes a $200K Breakout

Fundstrat’s Tom Lee doubles down on his bullish thesis: the worst is behind, the setup is perfect, and the next leg of the crypto bull run may hit before 2025 closes.

⚡ Quick Facts

📈 BTC Target: $150K–$200K by year-end
💥 ETH Target: $7K, fueled by record network revenue
🏦 Macro Driver: Falling inflation and potential Fed rate cuts
💰 On-Chain Pulse: Stablecoin volume + protocol revenue surging

🌡️ “Crypto Winter Is Thawing Fast”

Appearing on CNBC’s Squawk Box, Tom Lee, Head of Research at Fundstrat Global Advisors, declared the bear market all but dead. He called October 2025’s liquidation wave the final capitulation — the last flush before Bitcoin’s next vertical phase.

“Bitcoin is nearing the end of its consolidation,” Lee said. “Fundamentals are stronger than ever — stablecoin growth, record protocol revenues, and on-chain accumulation. This isn’t exhaustion; it’s reaccumulation.”

Lee believes inflation’s faster-than-expected decline, driven by cooling housing costs, sets the stage for a liquidity revival. With the Federal Reserve hinting at possible rate cuts, he expects global risk assets — from equities to crypto — to roar back into risk-on mode.

“Inflation has come down much faster than anticipated,” Lee added. “That opens the door for the Fed to ease sooner — a scenario where both stocks and crypto outperform into year-end.”

🧱 The Fundamentals Are Lining Up

Lee’s conviction isn’t built on vibes — it’s data-driven. He highlights three structural catalysts powering the next crypto uptrend:

💵 Stablecoin Growth: Transaction volumes on Ethereum have exploded, signaling fresh capital rotation.
🔗 Protocol Revenues: Major blockchains are posting record income — proof that DeFi and on-chain activity are back.
🧳 Institutional Flows: Spot ETFs and tokenized funds are quietly absorbing liquidity, creating a solid foundation for a long rally.

These are classic signs of reaccumulation, not retreat — a stage that historically precedes Bitcoin’s largest price expansions.

🪙 The Price Targets

Bitcoin (BTC): Lee’s base case calls for $150,000–$200,000 by the end of 2025.
Ethereum (ETH): Expected to hit $7,000, driven by staking yields, L2 scaling, and its dominance as the “yield engine” of crypto.

“When stablecoin velocity rises and gas fees increase for the right reasons — that’s not retail noise,” Lee said. “That’s institutional demand.”

Still, he cautions that timing depends on the Fed’s policy pivot. If rate cuts lag, the rally could stall — but structurally, the market looks primed for lift-off.

🔍 The Bigger Picture

After months of consolidation, Bitcoin’s base looks firm and liquidity is rotating back into risk. Macro headwinds are easing, and on-chain data supports the narrative of early bull-cycle accumulation.

Lee’s message is clear: the market is no longer in survival mode — it’s in setup mode. If the thesis holds, 2025 won’t end in sideways boredom — it’ll mark the dawn of crypto’s next exponential chapter.