Tom Lee strongly advocates for Bitcoin and Ethereum, but the Wall Street financial strategy fund Fundstrat he is backed by has released a very different report. The reasons for the two different scenarios are due to different risk control considerations.
(Background: When Ethereum fell below $2800, BitMine added an additional 30,000 ETH, holding over 3.3% of the supply)
(Additional background: Ondo Finance teamed up with LayerZero to launch a "Securities Cross-Chain Bridge": seamless transfer of tokenized stocks and ETFs, now supporting Ethereum and BSC)
Nicknamed "Crypto forever bullish," Tom Lee repeatedly announced in financial media interviews that Bitcoin and Ethereum would break their all-time highs by January 2026. However, the internal report from Fundstrat, where he works, shows a completely opposite outlook.

Citigroup sets a $143,000 Bitcoin target price, betting on ETF liquidity and legislative catalysts, while simultaneously establishing a $70,000 risk guardrail.
(Background: The largest Bitcoin options expiration in history is approaching! Glassnode: Market still pricing in downside risk, Bitcoin volatility may erupt in the new year)
(Additional context: No Bitcoin, no explosion! Modern Group headquarters received an explosion threat email, with the suspect demanding 13 BTC)
Citigroup released its latest research report on December 19, raising the 12-month Bitcoin target price to $143,000. The report was jointly authored by strategists Alex Saunders, Dirk Willer, and Vinh Vo, timed when Bitcoin was trading around $88,000, representing a 62% increase.

The Museum of Modern Art (MoMA) in New York has announced the inclusion of CryptoPunks into its permanent collection, providing a "museum-grade" endorsement for NFTs.
(Previous context: Buying CryptoPunks as reserves, unexpectedly PunkStrategy really took off)
(Additional background: Yuga Labs sold CryptoPunks! Infinite Node Foundation acquired the intellectual property rights: continuing the cyberpunk spirit)
The Museum of Modern Art (MoMA) has officially announced the addition of the NFT avatar series CryptoPunks to its permanent collection. It is now listed on the collection page. In the aftermath of the NFT bubble burst, this move is seen as a milestone for traditional art institutions to officially engage with blockchain assets.
This batch of CryptoPunks was assembled by multiple private collectors.

The largest Bitcoin options expiration in history is approaching. On-chain data analysis firm Glassnode pointed out that the market currently maintains a low-volatility, defensive structure, and short-term price movements are likely to remain constrained.
(Previous context: Has the Bitcoin super cycle ended? Fidelity warns: a cold winter may hit in 2026, supporting $65,000-$75,000)
(Additional background: Detailed review of the October crash: the fundamental reasons for Bitcoin's sharp decline)
Table of Contents
The market continues to price in downside risks
Options trading remains predominantly defensive
Market volatility is expected to pick up again in the new year
On October 19, on the X platform, on-chain data analysis firm Glassnode stated that the largest Bitcoin (BTC) options expiration event in history is imminent, but the spot price of Bitcoin remains limited within recent oscillation ranges.

The international precious metals market experienced a strong rally today, with spot silver prices successfully breaking through the $67/ounce level, setting a new record. According to the latest quotes, spot silver rose 2.38% intraday, reaching above $67.
(Background recap: Silver surpassed $63 to hit a new all-time high! This year's increase exceeds 100%, far surpassing gold and Bitcoin. Will it challenge the $100 mark next year?)
(Additional background: Silver broke through $60 to set a new record high! This year's increase exceeds 100%, ranking as the sixth-largest asset globally.)
The international precious metals market experienced a strong rally today, with spot silver prices successfully breaking through the $67/ounce level, setting a new record. According to the latest quotes, spot silver rose 2.38% intraday, reaching above $67. Meanwhile, the COMEX futures silver performed even better, with an intraday increase of 3

Bitcoin entered a correction phase after reaching a record high of $126,000, with market sentiment turning more conservative; however, several analysts point out that based on historical cycles and institutional fund movements, the possibility of Bitcoin entering a new bullish trend in 2026 has not been ruled out.
(Previous context: Has the Bitcoin super cycle ended? Fidelity warns: a cold winter may hit in 2026, supporting $65,000-$75,000)
(Additional background: Bitcoin keeps falling through $85,000! The Bank of Japan is expected to raise interest rates today, watch out for arbitrage unwinding and further selling)
Table of Contents
RSI enters oversold territory, historical experience favors bulls
Institutional funds become medium- to long-term support
Short-term volatility is inevitable, long-term structure is still evolving
Since October this year, Bitcoin briefly surged above the $126,000 historical high, but market momentum gradually cooled, and the price subsequently

The Council of the European Union announced today (19th) that it has officially agreed on the negotiation stance regarding the digital euro, representing a formal consensus among the 27 EU member states' governments on the legislative framework for the digital euro.
(Background: ECB Governor: The core system of the digital euro CBDC has been completed, and it could be launched as early as the second half of 2026)
(Additional background: ECB: The digital euro is expected to be launched in 2029, but this is contingent upon completing related legislation by 2026)
The Council of the European Union announced today (19th) that it has officially agreed on the negotiation stance regarding the digital euro, representing a formal consensus among the 27 EU member states' governments on the legislative framework for the digital euro. Notably, this stance is part of the "single currency package," which also includes proposals to strengthen the euro's status as legal tender, marking a significant step for the EU

SWIFT today (19th) announced that it is collaborating with over 30 financial institutions worldwide to develop a blockchain-based shared digital ledger aimed at supporting the large-scale circulation of regulated tokenized assets.
(Background: SWIFT accelerates blockchain adoption: conducting digital asset and currency transaction experiments next year, assisting cross-border transactions of various countries' CBDCs)
(Additional background: SWIFT dismisses "stablecoins are useless": Stablecoins will not disrupt the existing financial system because they only serve specific clients and scenarios)
SWIFT (Society for Worldwide Interbank Financial Telecommunication) announced today (19th) that it is working with more than 30 financial institutions globally to develop a shared digital ledger based on blockchain technology.

The Hyundai Group headquarters in Yeonji-dong, Jongno-gu, Seoul, received an explosion threat email today (19th), stating that "if 13 Bitcoins (BTC) are not paid, the Hyundai Group building in Jongno-gu will be destroyed by 11:30 AM."
(Background: Ransomware organization Qilin launched a supply chain attack on the "Korean financial industry"! 28 companies affected, 2TB of sensitive data leaked)
(Additional background: The Taiwanese government holds (confiscates) 210 Bitcoins! Over 2,000 ETH and nearly 300 BNB... total value exceeding NT$1.3 billion)
The Hyundai Group headquarters in Yeonji-dong, Jongno-gu, Seoul, received an explosion threat email today (19th), stating that "if 13 Bitcoins (BTC) are not paid, the Hyundai Group building in Jongno-gu will be destroyed by 11:30 AM." Some Korean media reports mentioned that the threat even went on to...

According to The Wall Street Journal, Todd Snyder, the bankruptcy trustee of Terraform Labs (a cryptocurrency company founded by Do Kwon), has filed a lawsuit in the U.S. District Court in Illinois, accusing high-frequency trading firm and crypto market maker Jump Trading and its executives, including co-founder William DiSomma and former head of the crypto division Kanav Kariya, seeking damages of up to $4 billion.
(Previous background: Arthur Hayes: Big names are in trouble—"Full liquidation of crypto," is Jump Trading the culprit behind the crash?)
(Additional background: Terra claims innocence but is betrayed! Files a "short UST report" against Jump Trading in court)