Fundstrat's Lee: Buy Now as Bitcoin Endures 50% Correction
Speaking at the Consensus Hong Kong 2026 conference on Wednesday, Fundstrat's Chief Investment Officer Thomas Lee urged investors to view the current crypto sell-off as a buying opportunity. This call to action comes as Bitcoin (BTC) suffers a 50% drawdown from its October record highs, its most severe correction since 2022. On Wednesday, the leading cryptocurrency fell below $67,000, erasing gains from a weekend rebound. Ethereum's ether (ETH) also declined, slipping approximately 3% to trade around $1,950.
Despite the market weakness, which Lee termed a "mini winter," his message was clear for investors trying to navigate the volatility.
You should be thinking about opportunities here instead of selling.
— Thomas Lee, CIO of Fundstrat
Ether May Dip Below $1,800 to Form 'Perfected Bottom'
Lee provided a specific technical outlook for Ethereum, suggesting the asset may not have found its floor yet. Citing analysis from market technician Tom DeMark, he noted that ETH could briefly dip below the $1,800 price level to form a "perfected bottom," which would set the stage for a more durable recovery. He observed that repeated 50% drawdowns in Ether since 2018 have historically been followed by sharp rebounds.
Lee also contrasted Bitcoin's prospects against traditional safe havens, arguing that gold has likely peaked for the year after underperforming the metal in 2025. He attributed recent crypto price weakness to volatility in the metals market, which he believes triggered broader deleveraging across risk assets. With that pressure potentially subsiding, Lee projects that Bitcoin is now poised to outperform gold throughout the remainder of 2026.
