Fundstrat’s Revolving 2026 Crypto Outlook Warns of a Return
A distribution report issued to Fundstrat Global Advisors revealed expectations for cryptocurrencies that seem to contradict Tom Lee's recent public comments.
According to screenshots shared on X, the document, which appears to be Fundstrat's internal 2026 crypto strategy guide, warns of a “significant decline” in the first half of 2026. The report warns that Bitcoin (BTC) has low targets of $60,000-$65,000, Ether (ETH), $000, and is on the way down to $0. Buying opportunities during the year, reduced to $50-$75 before delivery.
The material has not been publicly released by Fundstrat, and its accuracy has not been independently verified by Cointelegraph at the time of publication. However, several crypto-focused accounts, including Wu Blockchain, say the document was circulated to internal clients.
Lee is Managing Partner and Head of Research at Fundstrat. The circulating 2026 crypto outline was written by Sean Farrell, the firm's head of digital asset strategy.
Related: Ether Down 42% From All-Time High: Where Will ETH Price Go?
Tom Lee called ETH “very undervalued”.
The widely circulated view contrasts with a statement Lee made on stage at Binance Blockchain Week in Dubai earlier this month. Speaking publicly, Lee said Bitcoin could hit $250,000 within months and called Ether “very undervalued” at around $3,000.
Li argued that if Ether returns to its eight-year moving average against Bitcoin, the price could reach $12,000. Revisiting relative levels in 2021 would point to prices around $22,000, while the ETH/BTC ratio of 0.25 would point to prices north of $60,000, according to Lee.
In November, Lee said that Ether would begin the same trajectory that saw Bitcoin's price multiply more than 100 times since 2017.
Cointelegraph reached out to Fundstrat for comment, but did not receive a response by the time of publication.
Related: Ethereum gas limit may rise to 80M in January
BitMine maximizes the purchase of Ether
According to Cointelegraph, Lee's BitMine continues to accumulate Ether significantly despite the weak market background.
In a statement released on December 8, the company revealed that it holds nearly 3.9 million ETH as of December 7, after adding more than 138,000 ETH in one week. The firm says its holdings now represent more than 3.2 percent of Ether's total supply.
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