Fundstrat's Tom Lee says the recent strength in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) is signaling a structural shift in crypto adoption, even as semiconductor stocks and the broader AI trade lose momentum.
Crypto's '1934 Moment' Speaking in a CNBC interview on July 28, Lee noted that investors are increasingly looking beyond U.S. regulatory uncertainty and focusing on global crypto adoption and tokenization.
Despite concerns that the Federal Reserve could remain hawkish, elevated oil prices and fading enthusiasm around AI-related equities, BTC and ETH have continued to outperform.
"The price of crypto is not following what people expect," Lee said.
He pointed out that Ethereum (+19% in a month) has recently outperformed Bitcoin (+6% in a month), even as the odds of the CLARITY Act passing this year have fallen into the 30% range on prediction markets.
