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Tom Lee of Fundstrat believes that the approval of spot bitcoin ETF could move BTC to 180K

Tom Lee of Fundstrat believes that the approval of the first-ever US spot bitcoin ETF could propel the cryptocurrency to new heights in 2024. Speaking to CNBC, Lee suggested that Bitcoin could potentially reach $180,000 next year, a significant leap from its previous record high of $69,000. He reasoned that if the spot bitcoin ETF gets the green light, the demand for bitcoin would surpass its daily supply, pushing its clearing price to possibly $180,000. While the Jacobi Bitcoin ETF has already been launched in Europe under the ticker BCOIN, US regulators have not yet approved similar funds, with applications from major asset managers like BlackRock and Fidelity still pending.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin67,802 0.03 % 2.28 % 3.26 %
Litecoin85.96 0.11 % 0.53 % 4.76 %
XRP0.5303 0.23 % 0.40 % 2.63 %
Ethereum2,197.2 0.23 % 0.67 % 2.46 %
Dogecoin0.1548 0.37 % 0.09 % 7.69 %
Solana171.14 0.71 % 3.59 % 5.50 %
USDC1.000 0.10 % 0.02 % 0.08 %
Cardano0.2543 0.15 % 1.68 % 3.38 %
Tether0.9990 0.10 % 0.04 % 0.02 %
Binance Coin (Wormhole)222.47 0.38 % 4.71 % 3.08 %