Is a $60,000 Bitcoin Bottom Imminent? Will Tom Lee Be Right This Time?

▲ Tom Lee/Source: Twitter ©Coin Readers

Tom Lee, co-founder of Fundstrat, has declared that the long crypto winter is nearing its end and that Bitcoin (BTC) and Ethereum (ETH) are close to bottoming, as Wall Street institutional investors pour massive funds into Ethereum-related companies.

According to crypto-focused outlet CCN on February 16 (local time), Lee said in a recent interview that extremely poor investor sentiment and weak price action ironically suggest the market is entering its final capitulation phase. Citing analysis by market strategist Tom DeMark, he projected that Bitcoin could fall to $60,000, while Ethereum may break below its $2,400 support level and form a bottom around $1,890. He added that the bear market is likely to come to a complete end by April at the latest.

However, the market’s response to his optimistic outlook has been notably cold. Lee has faced intense criticism on social media after previously making inaccurate predictions that Bitcoin would surge to between $150,000 and $200,000 by the end of 2025, and that Ethereum would reach $7,000 to $9,000 by late January. Currently, Bitcoin and Ethereum remain under pressure, down approximately 45% and 60% respectively from their all-time highs.

Lee attributed the downturn in the crypto market to gold’s explosive rally. While factors such as monetary easing and geopolitical uncertainty are generally favorable for both gold and digital assets, he argued that gold’s record-breaking surge has triggered FOMO sentiment, drawing significant capital away from cryptocurrencies. He also diagnosed that growing fundamental fears about the stability of the global monetary system are acting as a severe headwind for digital assets, pushing investors toward gold instead.

Despite the short-term weakness in crypto prices, long-term bets by major Wall Street players continue. According to filings with the U.S. Securities and Exchange Commission (SEC), BlackRock, the world’s largest asset manager, increased its stake in Bitmine, an Ethereum treasury company led by Lee, by 166% to $246 million as of the end of 2025. Cathie Wood’s ARK Invest also demonstrated aggressive moves, purchasing more than 200,000 additional shares across three exchange-traded funds.

The strengthening of Ethereum-centered investment strategies by major asset managers underscores that the adoption of digital assets within traditional finance is progressing steadily. As seen in Amundi, Europe’s largest asset manager, launching a tokenized fund based on the Ethereum blockchain, top-tier Wall Street institutions are validating Ethereum’s value as financial infrastructure and laying the groundwork for a new leap forward.

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