Does March mark the end of bearish sentiment?
According to Tom Lee, the corrective phase of the crypto market is now behind us. Speaking on CNBC’s Squawk Box, he described March as a “turnaround month”, believing that the recent volatility was merely a temporary purge. After Bitcoin’s ATH around $126,000 in October 2025, the market would have simply consolidated before a new impulse.
For Lee, weak hands have been flushed out and the fundamentals remain extremely solid. He describes the current phase as strategic accumulation, often observed before a major breakout. Institutional liquidity would be ready to return gradually, supported by a more stable macro environment and renewed risk appetite.
From this perspective, 2026 could be a decidedly bullish year, marked by the convergence between crypto, institutional adoption and artificial intelligence. If March confirms this pivot, it could become the key inflection point of the cycle.
Bitcoin at $250,000 and Ethereum in supercycle?
Fundstrat’s projections are ambitious: Bitcoin between $200,000 and $250,000 by the end of 2026. According to Lee, BTC is gradually abandoning its traditional four-year cycles in favor of a more mature dynamic, supported by continuous ETF flows and a possible supply shock.
Regarding Ethereum, the analyst mentions a true “supercycle”, with a target between $7,000 and $9,000, representing upside potential of over 300% from recent levels. ETH would now be perceived as critical financial infrastructure, at the heart of DeFi and institutional applications.
Finally, the macro context seems to be aligning. The stability of Federal Reserve rates between 3.50% and 3.75%, combined with an S&P 500 target of 7,700 points, fuels a Goldilocks scenario. If these conditions persist, March could mark the official beginning of the next bull run.
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