Fund analyst under Tom Lee: Bitcoin may drop to $60,000 to $65,000 in the first half of 2026, and Ethereum may drop to $1,800 to $2,000

Tom Lee's Fundstrat cryptocurrency strategy head Sean Farrell stated in the "2026 Cryptocurrency Outlook" report, "While I believe that Bitcoin and the entire cryptocurrency market still have strong bullish factors in the long term, and that liquidity-driven support is expected to emerge in 2026, we may still need to digest several risks in the first/second quarter of 2026, which could provide more attractive entry points. My baseline judgment is that there will be a noticeable decline in the first half of 2026. Bitcoin could drop to $60,000–$65,000, Ethereum could drop to $1,800–$2,000, and SOL could drop to $50–$75. These price levels will provide good opportunities for positioning before the end of the year. If this judgment proves to be incorrect, I still prefer to maintain a defensive posture and wait for confirmation signals of a stronger trend. The year-end target for Bitcoin is around $115,000, and the year-end target for Ethereum could reach $4,500. Within this framework, ETH's relative strength will be more pronounced. I believe this is reasonable, as Ethereum has more favorable structural capital flow characteristics, including: no miner selling pressure, not affected by MSTR-related factors, and relatively lower concerns about quantum risks."