Lee: Crypto Market Has Entered a Historic Bull Cycle

Tom Lee, CEO of BitMine, is predicting that the current crypto market cycle will be the biggest ever. According to him, this historic bull market is driven by increasing institutional participation, growing mainstream adoption, and the expanding role of digital assets in the global financial system.

Lee made his comments at the Korean Blockchain Week while Bitcoin traded at $83,803, up 43.1% so far in Q3 2026. He believes that investors who reduced their crypto exposure will return as the current cycle approaches its later stages and points to increasing institutional participation and potential progress on U.S. crypto legislation as factors supporting Bitcoin and Ethereum.

Lee is maintaining his $150,000 target for Bitcoin, which would represent a substantial recovery from recent market levels. He expects stronger institutional demand in the fourth quarter to bring renewed momentum across the crypto market, potentially extending beyond traditional four-year patterns.

Some analysts are warning that Bitcoin could face further downside if key support levels fail to hold. Jeff Anderson has identified $82,000 as an important level for Bitcoin, while Lacie Zhang highlighted the $81,500-$83,000 region as a crucial area for Bitcoin.