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Thomas Lee, during his presentation at Hong Kong Consensus 2026, stated that investors ought to seek opportunities as the cryptocurrency market is experiencing a "mini winter."
Thomas Lee, chairman of BitMine and CIO of Fundstrat, on the main stage during Consensus Hong Kong 2026 (David Paul Morris/Consensus, modified by CoinDesk)
What to know:
- Fundstrat’s Thomas Lee encouraged investors to perceive the recent market downturn as a chance to buy, suggesting that gold may have reached its peak for the year and that bitcoin and ether are likely to perform better.
- Lee anticipates that ether might require a slight drop below $1,800 before a robust recovery can take place.
- Bitcoin fell back beneath $67,000 on Wednesday, extending its decline from last week’s rebound, which represents an approximate 50 percent reduction from its record highs in October.
In this article
ETH$1,948.79◢2.89%
HONG KONG — Thomas Lee, chief investment officer of Fundstrat and chairman of ether treasury firm BitMine Immersion (BMNR), indicated that investors should be less focused on pinpointing the lowest prices and instead start seeking entry points during his keynote address at Consensus Hong Kong 2026 on Wednesday.
"You should concentrate on opportunities here rather than selling," Lee remarked.
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BTC has experienced a 50% decline from its record highs in October, marking its most significant correction since 2022.
On Wednesday, bitcoin dropped back below $67,000, retracting some of the gains from last week’s low points. After a swift rebound above $72,000 from $60,000 over the weekend, BTC was down 2.8% within the last 24 hours. Ethereum’s ether , on the other hand, fell to $1,950, reflecting a decline of about 3%.
‘Perfected bottom’
Lee attributed the recent decline in cryptocurrency values to the fluctuations in metal prices, which affected various asset classes. In late January, gold’s market value varied by trillions of dollars in a single day, resulting in margin calls and impacting risk assets.
After bitcoin significantly lagged behind gold in 2025, he contended that the yellow metal has likely reached its peak for this year, with bitcoin expected to surpass it through 2026.
Regarding ether , Lee noted that the repeated 50% declines since 2018 have frequently been followed by sharp recoveries.
Referring to market analyst Tom DeMark, he mentioned that ETH may need to briefly dip below $1,800 to establish a "perfected bottom" prior to a more sustained recovery.
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