Tom Lee, co-founder of Fundstrat Global Advisors and chairman of Bitmine, stated at Consensus 2026 that Bitcoin’s recent price action signals a potential end to its prolonged bear market. He noted that historically, Bitcoin has never recorded three consecutive monthly gains during a bear phase.
If BTC closes above $76,000 in May, following positive closes in March and April, it would mark a definitive structural shift. The cryptocurrency is currently trading near $75,500, up 5% this month. Lee emphasized that such a milestone would confirm the bear market that began after the October 2025 peak at $126,000 and the subsequent 50% decline to $60,000 in February 2026 is over.
The analysis is supported by a golden cross—the 50-day moving average crossing above the 200-day—adding technical credence. Lee cautioned that resistance at $76,500 and macro factors like Fed policy still create uncertainty, but the pattern is historically bullish.