Bitmine President and Fundstrat co-founder Tom Lee stated that a new upward cycle has begun in the cryptocurrency market. Speaking at the Consensus 2026 event held in Miami, Lee argued that the bear market in crypto is over, specifically pointing to the recent price movements in Bitcoin.
Historical signal in Bitcoin
Lee pointed out that Bitcoin’s recent steady rise has left behind the long-standing downward trend in the market. Bitcoin, which decreased from 126 thousand dollars in October to 60 thousand dollars in February, showed a positive monthly closing in March and April and an increase of approximately 5 percent in May. According to Lee, if Bitcoin is gaining value for three months in a row, this has not been seen in any bear market in the past.
“If Bitcoin closes above $76,000 this month, the bear market will be over for sure.”
The CoinDesk Bitcoin Price Index closed April at $76,300, and BTC is currently trading near the $80,000 level. According to CryptoAppsy data, the current price of Bitcoin continues to support optimistic expectations in the market.
Psychological impact on the approach to investment
Lee emphasized that investors are still under the influence of the recent crypto crash and therefore cannot sufficiently see the strength of the current recovery. Referring to the latest technical analysis of experienced trader John Bollinger, Lee stated that positive signals regarding Bitcoin have increased.
The rise in cryptocurrencies, combined with new technological trends, stands out compared to the traditional market.
Following the tensions between the USA and Iran, a rapid increase in value was seen in crypto markets, especially led by Ethereum, making this sector more attractive than traditional assets.
The era of tokenization and artificial intelligence
Tom Lee highlighted blockchain-based asset portability (tokenization) and the use of artificial intelligence in financial transactions as the two main elements that trigger a major change in the financial world. According to him, artificial intelligence-based software will need more blockchain networks and tokenized financial systems for value transfer.
Lee also cited the rapid spread of stablecoins as a concrete indicator of this transformation. Stating that stablecoin transaction volume has surpassed Visa worldwide, Lee cited Grayscale’s analysis and stated that the $300 trillion securities market is expected to be moved to the blockchain network in the future.
Tokenization, which takes place on blockchain infrastructure, creates new opportunities in financial value creation. Lee suggested that this change could radically change the way the financial sector operates.
Lee argued that major financial institutions will be shaped by digital firms working on blockchain in the future. Compared to traditional giants such as JPMorgan, companies such as Tether and Jane Street, which achieve huge profits with fewer employees, are paving the way for new business models in the financial sector.
Stating that digital native companies work more efficiently thanks to blockchain-based transactions, Lee said that in the coming years, half of the world’s largest financial institutions may be companies with a completely digital infrastructure.
