Rare Accuracy! Tom Lee's New Year Script "Wash Up, Market Down" Has Been Half Fulfilled

BlockBeats News, Powell's term as Federal Reserve Chair officially ended on May 15. The day before, the U.S. Senate approved Wash's appointment as Fed Chair with a slim majority of 54 votes to 45.

More intriguingly, on Wash's first day in office, the mid-term uptrend of the U.S. stock market and Bitcoin came to a synchronous end. The S&P 500 index quickly fell back after peaking at 7501 on May 14; Bitcoin, on the other hand, failed to break through $82,000 on the 15th and turned downwards, experiencing several accelerated declines in recent days, currently barely holding above $77,000.

Although Tom Lee has been ridiculed for his multiple "brain-dead bullish" calls on cryptocurrency since becoming Chairman of BitMine, this "Wall Street Oracle" has already seen half of his script come true. On January 8 this year, Tom Lee predicted in an interview with CNBC that 2026 would be a year of "joy, depression, and rally," similar to 2025. He stated that the market would at some point feel like it's "entering a bear market," but a strong rebound would follow, ending the year on a bullish note, and he projected that the S&P 500 index would reach 7700 points by the end of 2026.

He specifically mentioned that the market may experience a 15% to 20% pullback during the early tenure of the new Fed Chair, especially in the second half of the year. However, this is not the end of the bull market but a significant buying opportunity.