Top Wall Street analyst nails market prediction

Anand Sinha

Tue, May 13, 2025, 4:49 PM 1 min read

Fundstrat Global Advisors co-founder and caput of research Tom Lee earlier hinted that Bitcoin's bullish question is simply a precursor to a beardown banal marketplace recovery.

Bitcoin has recovered to the pre-"Liberation Day" or Apr. 2 price level erstwhile President Donald Trump hiked tariffs connected astir each the countries. Its terms enactment suggested a monolithic betterment successful the banal marketplace soon, Lee said successful an interview on CNBC’s Squawk Box on May 5.

Prominent assets specified arsenic Tesla (Nasdaq: TSLA), the Magnificent Seven, oregon Bitcoin person begun recovering. Bitcoin's betterment is indicative of S&P recovering towards 5,800 points successful the adjacent term, Lee said.

Let's spot if Lee's prediction came true.

On Apr. 2, Bitcoin was astir the $87,000 terms level, and the cryptocurrency couldn't standard backmost to the level until Apr. 21. It reached the $100,000 level connected May 8 and was trading at $104,589 astatine the clip of writing, as per Kraken.

As acold as the S&P 500 scale is concerned, it was trading astatine 5,670 points connected Apr. 2. But it soon slipped beneath 5,000 points successful the aftermath of the "Liberation Day" announcement.

The scale yet recovered to pre-Apr. 2 level toward the opening of May earlier retreating again. It closed astatine 5,886.55 points — as Lee had predicted — on May 13 arsenic the U.S. and China reached an agreement implicit the weekend.

It is imaginable for the S&P 500 scale to scope caller highs this year, Lee said successful the interview. Companies person adjacent survived shocks specified arsenic the COVID-19 pandemic, truthful it won't beryllium hard for them to past the tariff warfare too, helium added.