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Fundstrat’s Tom Lee sees Bitcoin’s surge to $100,000 as a precursor to bullish momentum in the S&P 500. As investors await jobs and CPI data alongside the Fed's rate decision, Lee emphasizes the role of pro-risk sentiment in shaping the market's direction.
Bitcoin Rally Hints at S&P 500's Year-End Trajectory
The current upswing in Bitcoin's value is a "precursor" to the performance of the S&P 500 index for the remainder of the year, according to Fundstrat's Tom Lee, who expressed his opinion in an interview with CNBC.
As far as Lee is concerned, the current upswing demonstrates that investors are "pro-risk." The growth of Bitcoin is another indicator of the amount of money that has been sitting dormant for the past few years. The next three weeks will be jam-packed with microdata for investors to go through.
For example, Friday is when the BLS is supposed to issue its jobs data. It is Lee's belief that investors are "fearful" of the impending employment data being "too strong."
Jobs Report and CPI Data Loom Over Market Sentiment
On December 11, the report that contains the Consumer Price Index (CPI) for the preceding month will be made public.
At long last, on December 18th, the Federal Reserve will reveal its rate decision. "So, I think that once we are through these events, investors can actually invest in that Christmas Santa Claus rally," he added, while speaking to Polymarket.
Bitcoin’s $100K Milestone and Future Bullish Predictions
Since it is anticipated that this will extend the bullish cycle, Lee believes that the bullish scenario in 2025 will be the situation in which there are the fewest conceivable cuts.
According to U.Today, Bitcoin reached a new historical high of $100,000 on Thursday. Unfortunately, the cryptocurrency has now again fallen below this highly sought-after threshold.
At an earlier time, Lee made numerous forecasts that Bitcoin will be able to reach $150,000 by the end of this year.
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