Wall Street strategist Tom Lee suggests Bitcoin (CRYPTO: BTC) could retreat significantly from recent highs, potentially testing support levels at $70,000 or even the $50,000 range, while maintaining a long-term bullish stance targeting $250,000.
What Happened: Speaking on CNBC’s ‘Squawk Box’, Lee, who serves as Fundstrat Capital‘s Chief Investment Officer, characterized the cryptocurrency’s recent 15% decline from all-time highs as a “normal correction” for a volatile asset. Bitcoin currently trades near $95,000, down about 6.6% over the past month.
The forecast comes amid broader market uncertainty, with U.S. stocks experiencing a 23-day correction period and persistent inflation concerns. Lee emphasized that Bitcoin’s movements largely track global liquidity conditions, noting the market is still early in its halving cycle.
Crypto skeptic Peter Schiff offered a …
Full story available on Benzinga.com
Wall Street strategist Tom Lee suggests Bitcoin (CRYPTO: BTC) could retreat significantly from recent highs, potentially testing support levels at $70,000 or even the $50,000 range, while maintaining a long-term bullish stance targeting $250,000.
What Happened: Speaking on CNBC’s ‘Squawk Box’, Lee, who serves as Fundstrat Capital‘s Chief Investment Officer, characterized the cryptocurrency’s recent 15% decline from all-time highs as a “normal correction” for a volatile asset. Bitcoin currently trades near $95,000, down about 6.6% over the past month.
The forecast comes amid broader market uncertainty, with U.S. stocks experiencing a 23-day correction period and persistent inflation concerns. Lee emphasized that Bitcoin’s movements largely track global liquidity conditions, noting the market is still early in its halving cycle.
Crypto skeptic Peter Schiff offered a …
Full story available on Benzinga.com
Wall Street strategist Tom Lee suggests Bitcoin (CRYPTO: BTC) could retreat significantly from recent highs, potentially testing support levels at $70,000 or even the $50,000 range, while maintaining a long-term bullish stance targeting $250,000.
What Happened: Speaking on CNBC’s ‘Squawk Box’, Lee, who serves as Fundstrat Capital‘s Chief Investment Officer, characterized the cryptocurrency’s recent 15% decline from all-time highs as a “normal correction” for a volatile asset. Bitcoin currently trades near $95,000, down about 6.6% over the past month.
The forecast comes amid broader market uncertainty, with U.S. stocks experiencing a 23-day correction period and persistent inflation concerns. Lee emphasized that Bitcoin’s movements largely track global liquidity conditions, noting the market is still early in its halving cycle.
Crypto skeptic Peter Schiff offered a …Full story available on Benzinga.com Read More$BTC, $ETH, benzinga neuro, Cryptocurrency, Inflation, Kaustubh Bagalkote, News, Tom Lee, Markets, $ETH, $BTC, News, Cryptocurrency, Markets, Benzinga Markets
