Tom Lee: The pullback following SpaceX's unlocking presents a good buying opportunity; chasing the price higher in the short term is still not recommended.
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Tom Lee: US stocks are expected to strengthen in July, with the S&P 500 potentially reaching 8,000 points this year.
According to BlockBeats, on July 6th, Tom Lee, Chairman of BitMine, Ethereum's largest financial institution, stated in an interview with CNBC that he expects US stocks to perform stronger in July because market valuations are more reasonable than before, and investor sentiment is not overly bullish. July marks the start of the second-quarter earnings season, and first-quarter corporate earnings significantly exceeded expectations. Currently, the market's price-to-earnings ratio is about 1.1 percentage points lower than in January, and he expects second-quarter earnings to again exceed expectations, further lowering market valuations and leaving room for price-to-earnings ratio expansion. Therefore, he believes July will be a stronger month for stocks. Regarding whether the S&P 500 can reach 8000 points this year, Tom Lee stated that this goal is achievable. He stated that 8000 points roughly corresponds to $400 in earnings per share in 2026, or a price-to-earnings ratio (P/E ratio) of approximately 20. He believes this earnings forecast is low, and the P/E ratio could reach 22 or higher, implying an upside potential of 8400 to 8800 points by the end of the year. However, Tom Lee also indicated that the market may experience a correction that "feels like a bear market" between now and the end of the year, likely between August and October, rather than in July. Many fund managers have underperformed their benchmarks this year; currently, only 23% of fund managers have outperformed the broad-based growth stock index, the lowest level in nearly five years. Therefore, there may be significant buying demand in July. Tom Lee added that while the decline from February to April this year was only about 7%, it already gave a bear market-like feeling; later in the year, factors such as the Fed's new framework and the gradual unlocking of SpaceX shares may test the market.
Tom Lee: The rise in the ETH/BTC exchange rate indicates that investors expect improved visibility of crypto use cases.
According to BlockBeats, on July 6, Tom Lee, chairman of BitMine, the largest Ethereum treasury, wrote that although there is still widespread skepticism about ETH in the market, the rise in the ETH/BTC exchange rate shows that investors are expecting improved visibility of cryptocurrency "use cases," which is a good thing for the market.
SpaceX will be included in the Nasdaq 100 on July 7th. Historical cases show that there has been a pullback after inclusion.
According to Odaily Odaily, SpaceX will be officially included in the Nasdaq 100 index on July 7th, becoming one of the fastest large IPOs to be included in the index's history. Historical data shows that index inclusion does not necessarily signal a sustained upward trend; in some cases, it has become a temporary peak. After Palantir Technologies was included in the Nasdaq 100 in December 2024, its stock price peaked around the time of inclusion, followed by a correction of about 25% in the following weeks. Strategy also entered a correction period shortly after its inclusion, with a significant pullback from its peak. Analysts point out that this phenomenon typically stems from market expectations being priced in ahead of time, passive buying having already been traded in advance, and sentiment reaching a temporary high before inclusion. If historical patterns continue, SpaceX's short-term performance after inclusion in the index may face volatility rather than a one-sided upward trend.
Tom Lee's Bitmine Adds $74M in Ethereum, Declares a Crypto Bull Market 'Underway'
The purchase lifts Bitmine's stash to nearly 5.99 million ETH—4.9% of supply—as chairman Tom Lee argues Ethereum's outperformance signals a stronger move ahead and institutions remain underweight.
Tom Lee's Bitmine Buys $131M of ETH in Largest Ethereum Purchase Since June
The purchase lifts Bitmine's stash to 5.9 million ETH—4.9% of supply—as chairman Tom Lee points to crypto's strong third quarter.
Tom Lee’s Bitmine Buys Another $19 Million in Ethereum as Stash Nears 5% of Total Supply
The firm says it's 96% of the way to owning 5% of Ethereum's total supply, according to Chairman Tom Lee.