Rarely accurate this time! Tom Lee's New Year script "Market Up, Market Down" has been proven correct over half the time.

ME News, on May 18 (UTC+8), May 15 marked the official end of Powell’s term as the Chair of the Federal Reserve. The previous day, the U.S. Senate narrowly approved Waller to serve as Fed Chair by a vote of 54 in favor and 45 against. More intriguingly, on the very day Waller took office, the mid-term upward trend in both the U.S. stock market and Bitcoin also came to an end. After the S&P 500 index peaked at 7,501 on May 14, it quickly fell back; after Bitcoin failed to break through $82k on May 15, it turned downward, accelerating its decline multiple times in recent days, and is currently barely holding the $77k level.

Although Tom Lee—who has been mocked for repeatedly being “mindlessly bullish” on cryptocurrencies since becoming Chairman of BitMine—has, at the start of this year, his “Wall Street weatherman” script has already come true for more than half. On January 8, this year, Tom Lee predicted in an interview with CNBC that 2026 would be a year of “joy, depression, and rally,” with a trajectory similar to 2025. He said that at some stage the market would make people feel like it has “entered a bear market,” but then a strong rebound would follow. He expects the year to end on a bullish note and projected that the S&P 500 could reach 7700 points by the end of 2026. He specifically noted that when the market is put through a “test” in the early stage of the new Fed Chair’s tenure, there could be a pullback of 15% to 20%, especially in the second half of the year. But this is not the end of the bull market—it is an important buying opportunity (buying opportunity). (Source: BlockBeats)