Lee Sees Crypto Bull Market Beginning at End of June

Crypto analyst Tom Lee has declared that the crypto bull market began at the end of June and expects a stronger rally in the final quarter of 2026. According to Lee, this forecast is based on three main reasons: a shift back from AI investments to crypto, tokenization and AI-related use cases strengthening crypto fundamentals, and the view that the four-year cycle has concluded.

Lee pointed out that institutions initially allocated relatively low shares to crypto assets in their portfolios, with many focusing on AI stocks at the beginning of the year. However, he believes this trend will change as institutions increase their allocation to crypto assets by the end of 2026, particularly in the October-December period.

Ethereum's strong third-quarter performance is seen as a harbinger of a larger move by Lee, who attributes its success to developments in crypto use cases and shifts in investor preferences. He notes that Ethereum's rise compared to other major asset classes sets a foundation for his final-quarter expectations.