According to U.Today, Fundstrat's Tom Lee recently shared his insights during an interview with CNBC, suggesting that Bitcoin's recent rally could be a precursor to the performance of the S&P 500 index for the remainder of the year. Lee highlighted that the rally indicates a "pro-risk" sentiment among investors, reflecting the significant amount of capital that has remained idle over the past few years.
Lee pointed out that in the coming weeks, investors will need to process a substantial amount of microdata. For instance, the Bureau of Labor Statistics is set to release its jobs report soon, which Lee believes could cause concern among investors if it turns out to be stronger than expected. Additionally, the Consumer Price Index (CPI) report for the previous month is scheduled for release on December 11, followed by the Federal Reserve's rate decision announcement on December 18. Lee suggested that once these events are behind, investors might be more inclined to participate in a potential "Santa Claus rally" during the Christmas season.
Lee also mentioned that the fewest possible interest rate cuts would support a bullish outlook for 2025, potentially extending the current bullish cycle. As reported by U.Today, Bitcoin recently reached the $100,000 mark for the first time in history, although it has since fallen below this significant level. Lee had previously predicted that Bitcoin could reach $150,000 this year.
