Veteran crypto analyst Tom Lee has adjusted his year-end forecast for Bitcoin, lowering his target from $250,000 to just “above $100,000.” This change reflects Lee’s analysis of market trends and external factors influencing Bitcoin’s price.
In recent statements, Lee has highlighted the impact of increasing gold purchases by stablecoin issuers, arguing that this trend will help establish a higher long-term price floor for Bitcoin. He suggests that these developments might support a price rebound for Bitcoin as we approach the year’s end.
During an interview with CNBC, Lee shared that he now sees a slim chance for Bitcoin to retest its previous high of $125,100 this October. Nevertheless, he remains optimistic that the cryptocurrency could still exceed the $100,000 mark before the end of the year, potentially even reaching new highs. This marks a significant shift for Lee, who had maintained his previous $250,000 target until early October.
The recent adjustment in Lee’s outlook can be traced back to a notable crash in the market that occurred on October 10, which he described as a “glitch” leading to a wave of automatic liquidations. While he did not explicitly name Binance in his remarks, the timing and context of his comments hint at the exchange. During the crash, a synthetic dollar, known as USDe, precariously dipped to $0.65, which prompted forced liquidations and compromised nearly two million crypto accounts.
In relation to Bitcoin’s price trajectory, Lee has also pointed to a surge in gold demand stemming from crypto-backed stablecoins. He claims that stablecoins have emerged as the largest buyers of gold globally, driving prices up since early 2026. His assertion indicates that this correlation is not detrimental to Bitcoin; rather, it could serve to enhance its future value.
Lee’s revised stance stands in juxtaposition to other bullish predictions from cryptocurrency leaders. Analysts like Mike Alfred have projected that Bitcoin could soar to between $150,000 and $200,000. Meanwhile, commentary from Arthur Hayes suggests the possibility of a significant year-end rally, potentially leading Bitcoin to climb as high as $250,000. However, some analysts are wary of ongoing bearish trends, pointing to technical indicators that suggest a possible long-term downturn.
Since October 10, Bitcoin’s price has faced considerable volatility, plummeting more than 20% over the past month. This decline has been exacerbated by broader market conditions, including a $19 billion liquidation wave triggered by geopolitical tensions. Following a period spent below $90,000, Bitcoin is currently trading at approximately $91,466.
As the cryptocurrency landscape evolves, the differing opinions among analysts underscore the ongoing uncertainty and complexity of predicting Bitcoin’s trajectory in the near future.
