During his most recent appearance on CNBC’s Fast Money, Funstrat’s co-founder Tom Lee reiterated his theory that there is a direct correlation between crypto and the US equity market.
The longtime Bitcoin bull predicts that a new BTC all-time high would likely lead to another alt season.
CNBC’s Mellissa Lee asked the Fundstrat boss what was behind the sluggish Bitcoin price action in summer. In response, he suggests that the macro outlook was to blame.
I think that Bitcoin kinda stalled recently as the macro outlook stalled”
He further explains that the next Bitcoin move will coincide with a “decisive breakout” in the equity market.
According to Lee, the BTC price will hit a new ATH only after the S&P 500 achieves the same feat. Source...