Summary
- Tom Lee said Bitcoin may be nearing the end of its bear market.
- He said a third straight monthly gain for BTC would signal that the bear market is over.
- He added that if BTC closes this month above $76,000, the bear market would be definitively over.
Forecast Trend Report by Period
Fundstrat co-founder Tom Lee said Bitcoin may be emerging from its bear market, pointing to signs of a trend reversal.
Lee told the Consensus 2026 event that Bitcoin is breaking out of the downtrend that took it from $126,000 in October 2025 to $60,000 in February 2026, according to a May 7 report by CoinDesk.
Bitcoin posted monthly gains in March and April and was up about 5% in May, he said.
Lee said Bitcoin has never posted three straight monthly gains during a bear market.
If BTC closes this month above $76,000, the bear market is definitively over, he added.
The market is watching Bitcoin's monthly closes for signs of a trend reversal. Whether BTC can hold its price and continue to attract institutional inflows remains a key variable.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.