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Tom Lee says stop timing the bottom and start buying the dip
Thomas Lee, speaking on stage at Hong Kong Consensus 2026, said investors should be looking at opportunities as crypto is in the midst of a "mini winter."
Updated Feb 11, 2026, 11:50 a.m. Published Feb 11, 2026, 9:03 a.m.
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What to know:
- Fundstrat's Thomas Lee urged investors to view the sell-off as a buying opportunity, arguing that gold has likely peaked for the year and that bitcoin and ether are poised to outperform
- Lee sees ether possibly needing a brief dip below $1,800 before a sustained recovery.
- Bitcoin fell back below $67,000 on Wednesday, extending a pullback from last week's rebound and marking a roughly 50 percent drawdown from its October record highs.
HONG KONG — Thomas Lee, chief investment officer of Fundstrat and chairman of ether treasury firm BitMine Immersion (BMNR), said that investors should focus less on timing the exact low and start looking for entries in a keynote speech at Consensus Hong Kong 2026 on Wednesday.
"You should be thinking about opportunities here instead of selling," Lee said.
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BTC has suffered a 50% drawdown from its October record highs, its worst correction since 2022.
On Wednesday, bitcoin fell back below $67,000, giving up some of the bounce from last week's crash lows. After managing a rapid reversal above $72,000 from $60,000 over the weekend, BTC was down 2.8% over the past 24 hours. Ethereum's ether , meanwhile, slipped to $1,950, also around 3% lower.
'Perfected bottom'
Lee attributed the recent weakness in crypto prices to the volatility in metals, which rippled across asset classes. Late January, gold's market capitalization fluctuated by trillions of dollars in a single day, triggering margin calls and weighing on risk assets.
After bitcoin severely underperformed gold in 2025, he argued that the yellow metal likely has topped for this year and bitcoin is poised to outperform through 2026.
On ether , Lee said repeated 50% drawdowns since 2018 have often been followed by sharp rebounds.
Citing market technician Tom DeMark, he said ETH may need to briefly dip below $1,800 to form a "perfected bottom" before a more sustained recovery.
Crypto bulls may however heed Lee's recent track record on forecasts. In August 2025, he predicted bitcoin would hit $200,000 by the end of the year. BTC ultimately peaked at $126,000 in October before retreating to $88,500 by Dec. 31.
He subsequently said bitcoin could reach another all-time high in January 2026. By Jan. 31, BTC had fallen to $78,500.
Read more: SkyBridge's Scaramucci is buying the bitcoin dip, calls Trump a crypto President
UPDATE (Feb. 11, 11:50 UTC): Adds final paragraph on Tom Lee's recent price predictions.
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