With Bitcoin (BTC) defending a key support level, Tom Lee called for an end to the crypto winter, setting a huge year-end outlook for the flagship cryptocurrency and Ethereum (ETH).
Tom Lee Shares $200,000 Bitcoin Goal
Tom Lee, CEO of Ethereum’s largest treasury company, Bitmine Technology, common bold year-end price predictions for the two largest cryptocurrencies by market capitalization.
During a quick round of questions at Consensus 2026, the executive confirmed that Bitcoin could surge “well above all-time highs” by the end of the year, forecasting that its price could range from $150,000 to $200,000 by the end of 2026.
He also predicted that Ethereum could surge towards the end of the year, potentially reaching fresh highs in the $9,000 to $12,000 range. Lee said his bullish outlook is based on the belief that the crypto winter is over and that there could be an economic recovery in the coming months.
“In our opinion, Crypto Spring has begun and, as in previous cycles, investor sentiment and beliefs are subdued and bearish, even as cryptocurrency prices rise,” he said. he stated earlier this week, adding that the potential adoption or even failure of the Cryptocurrency Market Structure Act confirms the arrival of crypto spring.
The CEO’s bold predictions come as the flagship cryptocurrency defends a key support zone. It is worth noting that since mid-April, Bitcoin has fluctuated between $74,000 and $79,000, finally breaking out of this range earlier this week.
The flagship cryptocurrency crossed the $80,000 resistance on Monday for the first time since January. It then rose towards key resistance at $82,500 in the first half of the week before being rejected on Thursday. Bitcoin is currently trading in a range of $79,000 to $80,000, which some analysts believe could make or break BTC’s rally.
BTC on the most crucial support
Rekt Capital highlighted that Bitcoin successfully maintained the 21-week EMA at $78,000. However, he cautioned that “this move through this area of resistance has not been very sustainable so far, which opens the possibility of another retest of the 21-week EMA in the future.”
As a result, BTC must successfully test the 21-week EMA again to avoid a complete rejection from the resistance area, between the 21-week EMA and the 50-week EMA, and falling to the mid-$70,000 level.
Meanwhile, market analyst Ali Martinez confirmed that Bitcoin is currently trading around the most vital resistance level as the average cost of fresh whales, entities that have bought in the last 155 days, is currently at $80,300.
He explained that “when Bitcoin trades below this average cost basis, these whales suffer a loss,” meaning that fresh whales will be “encouraged to sell just to break even and avoid further losses” if BTC fails to hold the $80,300 area as support.
Martinez warned that exit panic would trigger a wave of selling pressure that would drive prices down significantly. On the contrary, if the flagship cryptocurrency turns this level into support, it would mean that the selling pressure has exhausted.
“When these whales get back into the green, they will stop selling and start sticking to higher targets, and that’s how new growth trends start,” he concluded.
Featured image from Unsplash.com, chart from TradingView.com
