“That Deleveraging Is Done” — Tom Lee Predicts Bitcoin’s Big Comeback Against Gold

The markets woke up groggy again. Dow futures stumbled over 340 points. The S&P was bleeding more than 50. And gold? Up another $80. Bitcoin, surprisingly, popped nearly 3.5%. The vibe in the financial world feels less like panic and more like whiplash.

Enter Tom Lee, Head of Research and CIO at Fundstrat Global Advisors. Always sharp, always watching. According to Lee, while the worst of market fear may be in the rear-view mirror, the pain isn’t over. In other words: the storm has passed, but the cleanup’s just begun.

The Fear Is Fading — But The Fallout Isn’t

Lee makes a clear distinction between uncertainty and pain. The VIX, Wall Street’s fear gauge, hit its recent peak back on April 7. That moment, Lee argues, marked the high-water line for market anxiety. People were bracing for the worst, unsure whether the Fed would flinch, whether the economy would fall off a cliff, whether war or recession or inflation would win the day.

But since then, the market has started to metabolize the risk. Investors are no longer panicking; they’re just exhausted. Peak uncertainty may be behind us. But that doesn’t mean the damage is done. Economic consequences—slower growth, stretched consumers, cautious CEOs—are still rippling through the system.

Markets don’t crash when people are scared. They crash when people realize the fear was justified.