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

ME News message: On May 18 (UTC+8), May 15 marked the official end of Powell’s term as Chair of the Federal Reserve. The day before, the U.S. Senate narrowly approved Waller to serve as Federal Reserve Chair by a slim margin of 54 votes in favor and 45 against. Even more noteworthy is that on the very day Waller took office, the medium-term uptrend in both the U.S. stock market and Bitcoin also came to an abrupt end. After the S&P 500 index peaked at 7,501 points on May 14, it quickly fell back; after Bitcoin failed to break through $82,000 on the 15th, it turned downward and has recently accelerated its drop multiple times, currently barely holding above the $77,000 level.

Although Tom Lee—since becoming chairman of BitMine—has been heavily mocked for repeatedly “blindly bullish” on cryptocurrencies, the “script” he laid out at the beginning of the year has already been fulfilled by about half. On January 8, Tom Lee, in an interview with CNBC, predicted that 2026 would be a year of “joy, depression, and rally,” with market performance similar to 2025. He said that at some point the market will make people feel like it has “entered a bear market,” but then a strong rebound will follow. He expects the year to ultimately end bullishly, and forecasts that the S&P 500 could reach 7,700 points by the end of 2026. He specifically noted that in the early stage of the new Federal Reserve Chair’s tenure, the market may see a “test” with a 15% to 20% pullback, especially in the second half of the year. But this is not the end of the bull market—it is an important buying opportunity. (Source: BlockBeats)