Tom Lee, Bitmine chairman and a co-founder of Fundstrat, said the crypto bear market could be considered over if bitcoin ends May above $76,000. Speaking at Consensus 2026 in Miami, he cited bitcoin’s rebound and the chance of three consecutive monthly gains as a key signal. He also pointed to relative strength in major tokens, tokenisation and AI-based finance as drivers of the next upcycle.

Fundstrat co-founder Tom Lee said the cryptocurrency market has already moved through a substantial bear phase and that investor sentiment and positioning now look closer to a bottom than a typical top. He said short positions were at levels usually seen mid-bear market. Real Vision founder Raoul Pal also said the current moves looked like a mid-cycle correction, citing liquidity indicators and an extreme reading in the crypto Fear & Greed index.