Bitcoin (BTC) is holding above a key support level as Tom Lee declared the end of the “crypto winter” and predicted major upside for both Bitcoin and Ethereum (ETH) by the end of 2026.

Tom Lee Predicts Bitcoin Could Reach $200,000

Tom Lee, Chairman of Bitmine Technology and a well-known crypto market supporter, shared bullish forecasts for the two largest cryptocurrencies by market capitalization during Consensus 2026.

Lee said Bitcoin could climb far beyond its previous all-time high, with BTC potentially trading between $150,000 and $200,000 by late 2026.

He also projected Ethereum to surge toward the $9,000 to $12,000 range.

According to Lee, his optimistic outlook is based on the belief that the crypto winter has ended and the market is entering a new recovery phase, often referred to as “crypto spring.”

“Crypto Spring, in our view, has already begun. Similar to previous cycles, investor sentiment remains cautious and bearish even as crypto prices continue to strengthen,” Lee said.

He added that ongoing discussions surrounding U.S. crypto market structure regulation, whether passed or not, further support the idea that the market is entering a new growth cycle.

Bitcoin Holds Crucial Price Zone

Lee’s bullish prediction comes as Bitcoin continues defending an important support area.

Since mid-April, Bitcoin had been trading between $74,000 and $79,000 before finally breaking out earlier this week.

BTC briefly moved above the $80,000 resistance level for the first time since January and later rallied toward the $82,500 area before pulling back.

Bitcoin is now trading around the $79,000–$80,000 range, which many analysts consider a critical zone that could determine the next market direction.

Analysts Warn of Key Resistance Level

Crypto analyst Rekt Capital noted that Bitcoin has so far managed to stay above the 21-week EMA near the $78,000 level.

However, he warned that BTC’s recent breakout still lacks strong momentum. If Bitcoin fails to hold this area, the price could fall back toward the mid-$70,000 range.

Meanwhile, analyst Ali Martinez identified $80,300 as Bitcoin’s most important resistance level at the moment.

Martinez explained that this level represents the average entry price of “new whales,” or large investors who accumulated Bitcoin within the past 155 days.

According to him, when Bitcoin trades below this level, many whales remain at a loss and may be encouraged to sell their holdings to avoid deeper losses.

If BTC fails to turn the $80,300 level into support, selling pressure could intensify and push prices lower.

On the other hand, if Bitcoin successfully reclaims and holds this level, it could signal that selling pressure is fading and a new uptrend may begin.

“Once whales return to profit, they typically stop selling and begin holding for higher price targets,” Martinez concluded.