During a recent interview with CNBC, Fundstrat's Tom Lee has opined that Bitcoin's rally is a "precursor" to what the S&P 500 index is going to do for the rest of the year.
According to Lee, the recent rally shows that investors are "pro-risk."
Bitcoin's rise also shows how much capital has been idle over the last couple of years.
Over the next three weeks, investors will have a lot of microdata to digest.
On Friday, for instance, the Bureau of Labor Statistics is expected to release its jobs report.
Lee believes that investors are "fearful" that the upcoming jobs report is going to be "too strong."
Alex DovbnyaThe Consumer Price Index (CPI) report for the previous month will be released on Dec. 11.
Finally, the Fed is going to announce its rate decision on Dec. 18. According to Polymarket,
"So, I think that once we are through these events, investors can actually invest in that Christmas Santa Claus rally," he said.
According to Lee, the fewest cuts possible will be the bullish case in 2025 since it is supposed to prolong the bullish cycle.
As reported by U.Today, Bitcoin hit $100,000 for the first time in history on Thursday. However, the cryptocurrency has now slipped back below this much-coveted level.
Earlier, Lee repeatedly predicted that Bitcoin would be able to hit $150,000 this year.
Alex Dovbnya
Yuri Molchan
Dan Burgin
Vladislav Sopov