Tom Lee Says Crypto Isn’t Out of Breath Yet Amid Supreme Court and Tariff Woes

Fundstrat's Tom Lee argued that the recent 50% Bitcoin drawdown is a temporary "crypto squall" caused by macro shocks, such as tariff turbulence, rather than a structural "crypto winter." The market initially saw a relief rally after a Supreme Court decision struck down some tariffs, but President Trump responded by escalating new tariffs under Section 122, leading to a risk-off rotation where safe havens like gold surged while Bitcoin fell below $65,000.

Lee contends that the narrative of a crypto winter is misleading, pointing to fundamental growth indicators like increased Ethereum transaction activity and Wall Street integration. He noted that crypto is currently suffering because gold is attracting risk appetite away from speculative assets. He also characterized Bitcoin's 50% drawdown as a slower, psychologically taxing grind, unlike previous euphoric collapses.

Furthermore, Lee suggested that potential Federal Reserve rate cuts, enabled by tariffs potentially reducing inflation, could create a more favorable backdrop for risk assets. He concluded that despite current volatility, crypto's underlying infrastructure and adoption trends position it for resilience, suggesting it is "very much in play."

(Source：BeInCrypto)