Summary
- Tom Lee said Bitcoin (BTC) is breaking out of a downtrend that ran from $126,000 in October last year to $60,000 in February this year.
- He said BTC was up about 5%% in May after posting gains in March and April, and stressed that there has been no case of three straight monthly gains during a bear market.
- He added that the bear market would be definitively over if BTC closes this month above $76,000.
Forecast Trend Report by Period
Fundstrat co-founder Tom Lee said Bitcoin may be emerging from its bear market, citing signs of a trend reversal.
Lee told the Consensus 2026 conference that Bitcoin is breaking out of a downtrend that stretched from $126,000 in October last year to $60,000 in February this year, CoinDesk reported on May 7.
Bitcoin posted monthly gains in March and April and was up about 5% in May, he said.
Lee also said Bitcoin has never posted gains for three straight months during a bear market.
If BTC closes this month above $76,000, the bear market is definitively over, he added.
Market participants are watching Bitcoin's monthly closing pattern and the potential for a trend reversal. Whether BTC can hold its price and draw institutional inflows will be key variables.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
