Bitcoin just touched $76K. The Nasdaq hit a new all-time high. And Fundstrat's top analyst thinks this is only the beginning — with crypto at the front of the pack.
$76K
BTC intraday high
+10%
BTC over 2 weeks
24,016
Nasdaq all-time high
Crypto and stocks, moving together
On Wednesday, Fundstrat's CIO Tom Lee went on CNBC's Closing Bell and laid out a clear thesis: the next major leg higher won't be led by equities — it'll be driven by crypto. Specifically, he called out Bitcoin and Ether as the assets to watch, alongside the Magnificent 7 and the broader software sector.
The market seemed to agree. The Nasdaq closed at a record 24,016, up 1.60%. The S&P 500 tagged 7,022, up 0.78%. Tech stocks gained more than 2% on the day. And Bitcoin briefly hit $76,000 — up roughly 1.20% in 24 hours and nearly 10% over the past two weeks. Risk assets across the board were pointing in the same direction: up.
The catalyst: war risk fading
A big part of Wednesday's optimism came from Washington. President Trump signaled the US-Iran conflict may be winding down, telling reporters: "I think they want to make a deal very badly." No deal has been signed yet — but the tone shift was enough. Traders read it as a green light. Geopolitical risk had been keeping some investors on the sidelines, and even a small de-escalation signal is enough to bring cautious money back into the market.
"Markets bottom on bad news, not good news." — Tom Lee on X, making the case the rally still has room to run.
What this means for you
Lee's message is simple: don't confuse a recent rally with a rally that's over. Stocks and crypto have held up despite the conflict, and if the geopolitical pressure lifts further, there's a real case for continued upside. Sideline capital returning to the market is real buying pressure — and it has to go somewhere.
Whether crypto leads equities or just runs alongside them, the setup looks constructive right now. BTC at $76K with macro tailwinds is worth paying attention to — not chasing blindly, but watching closely.