Tom Lee predicts the rise of the S&P 500 with the crypto rally.

Tom Lee's Year-End Predictions

Bitmine analyst Tom Lee stated that the S&P 500 index could increase by 4% to 10% by the end of the year, surpassing the 7,000 level. He based this prediction on the Federal Reserve's interest rate cuts and ongoing skepticism among investors.

Developments in the Cryptocurrency Market

Lee described October 10th as the largest liquidation event of the last five years. He noted that low open positions and improving technical indicators are setting the stage for a year-end rally in cryptocurrencies.

Analysis of Bitcoin and Ethereum

Lee expressed that he believes Bitcoin acted as a store of value during this liquidation process. He also emphasized that the activity of Ethereum, driven by stablecoins, indicates a significant price movement.