Tom Lee, Chairman of Bitmine and co-founder of Fundstrat, has declared the start of a new bull cycle in the cryptocurrency market. Speaking at the Consensus 2026 event held in Miami, Lee pointed to recent price movements in Bitcoin as strong evidence that the crypto bear market has concluded.
Historic signal for Bitcoin
Lee emphasized that Bitcoin’s stable upward momentum over the past several months signals the end of a prolonged downtrend. After dropping from $126,000 in October to $60,000 in February, Bitcoin posted positive monthly closes in both March and April. Now, in May, it is up another 5 percent. According to Lee, there has never been a bear market in which Bitcoin gained value for three consecutive months.
“If Bitcoin ends this month above $76,000, the bear market will be definitively over.”
The CoinDesk Bitcoin Price Index shows that Bitcoin closed April at $76,300 and is currently trading near the $80,000 level. Data from CryptoAppsy indicates that Bitcoin’s current price continues to fuel optimism across the market.
Psychological impact on investment outlook
Lee noted that many investors are still influenced by the aftermath of the last crypto crash, which prevents them from fully recognizing the strength of the current recovery. Referencing respected trader John Bollinger’s recent technical analysis, Lee underscored that positive signals for Bitcoin are becoming increasingly prominent.
Lee added that the rise in cryptocurrencies, combined with new technological trends, is giving digital assets an edge over traditional markets.
Geopolitical tensions, such as those between the US and Iran, have fueled a sharp rise in crypto prices—led by Ethereum—making digital assets more attractive compared to conventional investments.
The era of tokenization and artificial intelligence
Lee also identified tokenization—blockchain-based asset portability—and the application of artificial intelligence in financial transactions as twin forces revolutionizing the finance world. He argued that AI-powered software will increasingly require blockchain networks and tokenized financial systems to enable efficient value transfer.
He further highlighted the explosive growth of stablecoins as a tangible example of this shift. Lee noted that global stablecoin transaction volumes have now surpassed those of Visa. Citing Grayscale’s analysis, he mentioned expectations that the $300 trillion securities market could eventually migrate to blockchain-based platforms.
Tokenization on blockchain infrastructure is opening up new avenues for financial value creation. Lee contends that this paradigm shift has the potential to fundamentally transform how the financial sector operates.
He also argued that the leading financial institutions of the future will be shaped by digital-first companies operating on blockchain. Unlike established giants like JPMorgan, firms such as Tether and Jane Street are paving the way for new business models in finance with far fewer employees yet comparable profits.
By leveraging blockchain-based transactions, digital-native companies are achieving greater efficiency. Lee predicts that within a few years, half of the world’s largest financial organizations could be entirely digital in their infrastructure.
