A circulating report attributed to Fundstrat Global Advisors has outlined a bearish outlook for cryptocurrencies that appears to conflict with Tom Lee’s recent public comments.
According to screenshots common at $50-$75 before potential purchase opportunities arise later in the year.
The material has not been made publicly available by Fundstrat and its authenticity has not been independently confirmed by Cointelegraph at the time of publication. However, many cryptocurrency-focused accounts, including Wu Blockchain, law the document was sent to internal customers.
Lee is managing partner and head of research at Fundstrat. The circulating cryptocurrency outline for 2026 was apparently written by Sean Farrell, the firm’s head of digital asset strategy.
Related: Ether Down 42% From All-Time High: Where Will ETH Price Bottom?
Tom Lee Calls ETH ‘Grossly Undervalued’
The circulating predictions contrast with Lee’s statements made on stage at the Binance Blockchain Week in Dubai earlier this month. Speaking publicly, Lee he said Bitcoin could hit $250,000 in a matter of months, and Ether’s price of around $3,000 will be “grossly undervalued.”
Lee argued that if Ether returned to its eight-year average ratio to Bitcoin, its price could approach $12,000. Revisiting 2021 relative levels would imply prices near $22,000, while an ETH/BTC ratio of 0.25 would suggest valuations above $60,000, according to Lee’s presentation.
In November, Lee also stated that Ether was following the same path that has seen Bitcoin’s price boost more than 100 times since 2017. “We believe ETH is entering the same supercycle,” he said.
Cointelegraph reached out to Fundstrat for comment but had not received a response at the time of publication.
Related: Ethereum may accelerate in January as the gas limit increases to 80M
BitMine increases Ether purchases
As Cointelegraph reports, BitMine Lee continues to aggressively accumulate Ether despite weakening market conditions.
In a December 8 disclosure, the company said it had nearly 3.9 million ETH as of December 7, after adding over 138,000 ETH in one week. The company claimed that its holdings currently represent over 3.2% of the total Ether supply.
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