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Tom Lee, a well-known financial analyst, recently shared some insights. He believes that Bitcoin's rise above $100,000 could indicate a bullish trend in the stock market. He encourages investors to stay optimistic about a potential "Christmas Santa Claus Rally."

In a CNBC interview on December 6, 2024, Lee, who is the managing partner and head of research at Fundstrat Global Advisors, said, “I think Bitcoin rising is a sign that it’s breaking out of a holding pattern. This could be a precursor to what the S&P 500 will do for the rest of the year.”

Lee pointed out that Bitcoin’s surge reflects a growing appetite for risk among investors. “It shows how much capital has been sitting idle in money markets or waiting to see if the economy can recover,” he added.

Looking ahead, Lee noted that several key economic reports will be released soon. These include the November jobs report, the Consumer Price Index data for November, and the Federal Reserve's meeting to discuss interest rates. “Once we get through these events, investors can start looking forward to that Christmas rally,” he said.

Lee also reiterated his earlier prediction that the S&P 500 could reach 6,300 by year-end. Earlier this week, he forecasted Bitcoin's rise above $100,000, which has now happened. He even projected that Bitcoin might hit $250,000 by the end of 2025, driven by increased adoption and potential legitimization in the U.S.

Many in the cryptocurrency community are hopeful that President-elect Donald Trump will support the industry. Recently, Trump appointed venture capitalist David Sacks as the first "White House AI & Crypto Czar."

As of now, Bitcoin trades at $60,860.32, down 3.35% in the last 24 hours, according to Benzinga Pro. The S&P 500 closed 0.19% lower at 6,075.11 during Thursday's trading session.