Bitcoin News Today: Permabull Tom Lee Defies Bear Market Skepticism, Stands by $200k Bitcoin Target

Despite a sharp decline in Bitcoin's price below $90,000, Tom Lee, executive chairman of BitMine and a long-time "permabull" in financial markets, remains steadfast in his prediction that the cryptocurrency will reach $150,000 to $200,000 by the end of January 2026. The forecast, reiterated in a November 2025 interview, contrasts with the current bearish sentiment, where Bitcoin has lost over 25% of its value since October's liquidation event.

Lee attributes the recent downturn to temporary market dynamics, including lingering anxiety from the October 10 sell-off and uncertainty around Federal Reserve policy. However, he argues that technical indicators suggest the sell-off is nearing exhaustion, with BitMine's Matt Hougan echoing the view that the current price range represents a "generational opportunity" for long-term investors. Lee's bullish stance is rooted in his belief that a broader stock market rally will eventually propel Bitcoin to new highs, mirroring historical patterns where equities and crypto move in tandem.

The prediction builds on Lee's earlier forecasts, including a September 2025 assertion during the South Korea Blockchain Week Impact Summit that Bitcoin could hit $200,000–$250,000 by year-end. While the timeline has shifted, his confidence in Bitcoin's long-term trajectory remains unchanged. This aligns with BitMine's own strategy, which includes a $11.8 billion crypto and cash treasury, with 3.6 million Ethereum (ETH) tokens - accounting for 2.9% of the total ETH supply - stored in its holdings.

Lee also sees Ethereum entering a "supercycle" akin to Bitcoin's past growth phases. He compares the current ETH price action to Bitcoin's 2017 trajectory, noting that volatility often precedes explosive gains. With Ethereum's long-term holders now holding 27 million tokens (up from 10 million earlier in 2025), Lee argues that accumulation trends and upgrades like the Fusaka network upgrade position ETH for a multi-year rally.

The market's skepticism, however, is palpable. ETF outflows, geopolitical tensions, and concerns over AI valuations have exacerbated the downturn, with Bitcoin ETFs shedding $3.79 billion in November alone. Critics like Alliance DAO's QwQiao warn of a potential 50% drawdown before a sustainable bottom forms, while BlackRock's Bitcoin ETF faces record outflows.

Despite the headwinds, Lee's track record as a vocal optimist - famously predicting the S&P 500 would double by 2030 - has earned both admiration and skepticism. His Bloomberg profile highlights his reputation for audacious forecasts, including a hypothetical $3 million Bitcoin price by 2030. For now, the market remains in a test of patience, with Lee's $200,000 target hinging on broader macroeconomic shifts and renewed risk-on sentiment.