Tom Lee said during a CNBC appearance on September 1 that the current crypto rally is likely just the first leg, with institutional investors positioning for a major fourth-quarter move. In remarks relayed by BlockBeats, Lee argued that actual crypto ownership remains very limited, which is why bitcoin can easily reach six-figure territory above $100,000 — though interest rate increases remain a risk. He noted that long-term yields have already risen, explaining that if the Fed hikes while yields actually decline, the effect would resemble monetary easing. In his view, the reaction of long-term yields to Fed policy will be the key variable. Lee described the current market phase as a test, saying many investors missed the boat during this round. He added that institutions are clearly buying crypto-related equities, with trading volume surging as evidence; that signal, he said, points to a big fourth-quarter rally. Lee also said a move to $150,000 remains possible and is not far off.
Few holders, rate policy in focus
Tom Lee said on CNBC on September 1 that very few people actually hold cryptocurrencies, and that is why bitcoin can easily break into six figures — say, above $100,000 — although higher interest rates could be a drag. He called the coming crypto move a good test, noting that long-term yields are already up. Lee's argument: if the Federal Reserve hikes while long-term yields fall, that would essentially amount to monetary easing. The key, he suggested, is how long-term yields react to the Fed's moves.
Institutions buying crypto stocks, Q4 'big move' in sight
Lee believes the market is only in the first wave of gains, because many investors were caught off guard and did not have time to get in. He also said it is clear that institutional investors are buying crypto-related stocks; trading volume has surged, which he reads as a signal that they are positioning for a big fourth-quarter move. On the price front, Lee said $150,000 is still possible and not far off.
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