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Tom Lee said Bitcoin‘s latest rally may be the “first leg up” and maintained that $150,000 remains possible.
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Sen. Kevin Cramer sees a “good chance” of passing the CLARITY Act before the Nov. 3 midterm elections if the Senate clears a key procedural vote on Sept. 15.
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Lee has also argued that the legislation could accelerate Wall Street’s move into crypto.
Fundstrat’s Tom Lee has described Bitcoin’s recent rally as the opening phase of a larger move, claiming that the crypto could still reach $150,000.
His forecast comes as US lawmakers prepare for a crucial vote on the CLARITY Act, which Lee believes could give Bitcoin and Ethereum a major boost during the fourth quarter.
It comes as Senator Kevin Cramer said there was a “good chance” the Senate could pass the legislation before the Nov. 3 midterm elections, provided lawmakers first agree to take up the measure on Sept. 15.
Tom Lee Says Bitcoin’s ‘First Leg Up’ Has Begun
Speaking on CNBC’s Squawk Box, Lee said the latest crypto rally had surprised investors who were positioned for further weakness.
“I think this is the beginning. I think it’s the first leg up,” Lee said.
Lee pointed to increased trading in crypto-linked stocks as evidence that institutional investors were positioning for a strong fourth quarter.
He also expects institutional allocations to rise through September and the final three months of the year, after crypto became what he described as the best-performing macro asset of the third quarter so far.
Other potential drivers include the end of crypto market’s four-year cycle and the return of South Korean investors who rotated into artificial intelligence stocks earlier in 2026.
The Fundstrat co-founder said relatively few investors currently hold crypto following repeated rounds of deleveraging, leaving room for Bitcoin to return to six figures.
When asked whether he was sticking with his previous Bitcoin forecast, Lee replied:
“I think $150,000 is still possible.”
Lee’s outlook also rests partly on monetary policy.
His base case is that the Federal Reserve leaves interest rates unchanged at its Sept. 15 meeting, an outcome he believes could trigger a broader market rally.
However, he acknowledged that an interest-rate increase would test the crypto market.
Lee said the impact would depend partly on whether longer-term Treasury yields rose or fell in response.
Cramer Sees Path to CLARITY Act Passage Before Midterms
Lee’s regulatory catalyst may face its decisive test within weeks.
Speaking on Fox Business, Cramer noted the importance of the Senate’s CLARITY Act on Sept. 15, one day after lawmakers return to Washington.
Source: finance.yahoo.com